Lotte Mart announced on the 31st that it has enhanced price competitiveness by operating designated salmon farms in Chile, the first of its kind in the domestic retail industry.
To select the designated farms, Lotte Mart visited two salmon farms and a local processing facility located in Puerto Montt, Chile, in early July. The designated farms operate on a pre-contract basis, which has the advantage of being less affected by exchange rates. To this end, Lotte Mart is set to import approximately 1,000 tons of salmon raw material at prices up to 15% cheaper than international market rates, having secured the salmon import volume in advance, thereby ensuring producers' revenue and enabling a stable supply of high-quality salmon.
Additionally, Lotte Mart is the only large retail chain to airlift Chilean salmon in a refrigerated state, reducing distribution steps and enhancing product freshness and price competitiveness.
From the 31st to the 6th of next month, Lotte Mart will sell large fillet salmon 'ASC Certified Patagonia Fresh Salmon (500g/Chilean)' at a discount of 10,000 won for ELPOINT members, priced at 19,900 won. This product is a sustainably farmed seafood certified by the Aquaculture Stewardship Council (ASC).
Cho Sung-yeon, Lotte Mart's seafood team merchandising planner, noted, "To respond to the rapidly changing high exchange rate and international market environment, we have been able to prepare high-quality salmon at reasonable prices through local designated farms," and added, "We will continue to prepare discounts on salmon that will make Lotte Mart synonymous with salmon while continuously discovering high-quality salmon producing regions."