Sealect canned fish maker sees big potential in AEC
The Asean Economic Community, to be effective by the end of this year, is expected to create great business opportunities for local companies, including T-Holding Co, producer of Thai Union Frozen Products' Sealect canned fish. The Nation's Kwanchai Run
WHAT WILL THE BUSINESS PLAN BE FOR SEALECT CANNED FISH PRODUCTS BOTH IN THAILAND AND IN OVERSEAS MARKETS?
In Thailand, we plan to double the business of Sealect canned fish in three years. Sealect Tuna is currently the market leader with a strong market share. Our aim is to convert Thai and AEC consumers to canned fish under the Sealect brand, leveraging TUF’s world seafood expertise.
In AEC markets, we already have a presence in Laos, Cambodia, Vietnam, Myanmar and India … with Sealect. However, our plans are to build up the Sealect brand in these AEC countries in the near future.
WHAT DO YOU WANT SEALECT TO BE IN THE NEXT THREE TO FIVE YEARS?
Currently the Sealect brand has a strong foothold in the tuna, sardine and mackerel segments. We plan to expand AEC market potential through distribution leveraging on Sealect’s brand strength in Thailand. Our goal is to be No 1 in the AEC markets and build up Sealect canned fish through traditional trade with strong NPD and … distribution partners.
HOW DO YOU SEE THE BUSINESS POTENTIAL UNDER ASEAN INTEGRATION AFTER AEC BECOMES EFFECTIVE AT THE END OF THIS YEAR?
Asean integration will open up the [regional] market, and we will triple our business under Sealect. These neighbouring [countries] have great economic potential – consumers are always willing to pay for high-quality, competitively priced, innovative products with leading brands like Sealect from Thailand.
WHAT IS THE CURRENT EXPORT PROPORTION FOR SEALECT PRODUCTS?
We started entering AEC markets three years ago, and we plan to triple the business in [another] three years. Thailand makes up the biggest portion of the Sealect business. Currently exports contribute 5-10 per cent. We will triple this potential.
WHAT WILL THE EXPORT CONTRIBUTION BE IN THE NEXT THREE TO FIVE YEARS?
In the future, the AEC will |contribute an important portion of our business. Consumers |in these countries have very |similar consumption habits |to Thailand’s, especially in the traditional trade and sardine/mackerel market. Good-quality products, affordable prices, innovation with the strong Sealect brand |and effective distribution will |be key.
Myanmar presents a huge potential, with 54.7 million people and no clear leader in the market. Consumers in Laos have very similar profiles to Thai consumers and buy practically the same type of product. Vietnam is more competitive, however; consumers there love to have a good breakfast with sardine or mackerel in baguettes. India is another huge market with exciting opportunities, and we just entered it last year.
WHAT WILL BE THE NEW POTENTIAL MARKETS YOU WANT TO EXPLORE OVER THE NEXT THREE TO FIVE YEARS?
New potential markets we would like to explore include Indonesia, the Philippines, Malaysia and Singapore.
