Bioiberica extends partnership with Mill Tech in ‘strategic’ South Korean market
Mill Tech, which works with all the major feed players in South Korea, has a long-standing partnership with the Barcelona-headquartered company in relation to distribution of its nucleotides based products in that Asian market.
The Palbio range, said the company, has met that Asian country’s strict regulatory requirements for animal feed ingredients. The company had to fulfil rigorous export requirements.
A source of hydrolyzed proteins in the form of L-α-amino acids and bioactive peptides, Palbio 50 RD, is now approved for distribution in over 40 countries, said the supplier.
In terms of when exactly the Palbio ingredients were authorized for use in South Korea, Joan Bassa, director of the heparin science, animal nutrition and plant health business units at Bioiberica, told us: “After a long process of authorization with the local health authorities, we obtained the approval at the end of 2019. However, 2020 was a ‘lost year’ due to the pandemic, so the product launch and sales were delayed.”
Market access
South Korea has been one of the most difficult markets to access due to the regulatory barriers, he said.
Bassa highlighted collaboration as critical when bringing products to new markets. “There has been a lot of work undertaken by both Bioiberica and Mill Tech, as well as the health authorities in both our countries, to successfully achieve authorization of the range.”
While South Korea is strategic for the Spanish company, it is a very competitive market: “There is both a strong presence of the big international players and local companies.”
Bioiberica is currently targeting swine and poultry sectors in that market with its hydrolyzed protein, with the company eventually looking to enter the aquaculture segment there.
The products are designed to positively affect the intestinal health of young animals, improving digestion and feed intake to ensure productive improvements in pig, poultry, and fish.
