GRACE Road has begun shifting to locally sourced food to mitigate potential supply disruptions linked to the escalating war in the Middle East.
Grace Road president Daniel Jung Yong Kim said the company was expanding its food processing capacity, with a major project already underway, to help secure food security in the country and counter the affects of inflation.
“This year, we are stepping up more food processing,” Mr Kim said.
“For example, we are setting up a juice factory, and we hope it will be completed by the end of the year.”
The planned facility will use locally-sourced produce to manufacture juice for the domestic market, marking a significant shift from reliance on imported beverages.
Mr Kim said the initiative is part of a broader strategy to utilise resources available within Fiji.
“At the moment, a lot of imported products can actually be made here.
“So why don’t we do it? We will step up into food processing as well.
Mr Kim warned that global instability is already affecting costs, particularly in freight.
“After this war, everything will be expensive.
“Freight costs have already gone up by more than 10 to 15 per cent.”
In addition to food production, Grace Road is also investing in renewable energy to reduce its dependence on imported fuel, which currently represents its largest import expense.
“Our number one import is actually fuel.
“If we shift to renewable energy, it directly reduces fossil fuel imports, and whatever profit stays within the local economy is beneficial.”
Grace Road currently imports a wide range of goods, including processed foods, beverages, cosmetics, and hardware supplies, from countries such as South Korea, the United States, China, Vietnam, and Australia.
