HI-Q Food raises capacity

In 2011, the company reaped 60 per cent of its revenue from canned fish, 33 per cent from sauces and 7 per cent from ready meals. It sold products worth Bt1.7 billion in the domestic market and Bt500 million overseas.
“We’ll focus more on sauces and ready meals because of their high business potential. By contrast, the canned-fish segment tends to be stable and the supply of raw materials is quite unpredictable,” said marketing director Suwit Wangpattanamongkol.
The value of Thailand’s ready-to-eat segment, including frozen meals, is estimated at Bt3 billion. Hi-Q started production of ready meals in 2008. From congees and soups, it is launching more menus, including vegetarian ones.
As climate change contributes to shortages of raw materials for canned fish products, this segment should gradually generate lower revenue, which the company hopes to compensate for with ready-to-eat products that can adapt to changing consumer behaviour.
Established in 1986, Hi-Q launched tomato sauce as its first product. It aims to grow domestic revenue to Bt2 billion within three years, with another Bt1 billion from exports.
Joining the BOI Fair that kicked off this week, Hi-Q portrays itself as an advanced food company in terms of product and packaging innovation. It recently launched a new soybean sauce with 40 per cent less sodium to help reduce the chance for high blood pressure and cardiac disease.
The company was also the first to sell fermented lettuce in soft packages.