AEC sales to help PFP reach 15-20% growth target, chairman says

The company also plans to open new seafood-processing plants in neighbouring AEC countries, including Indonesia and Vietnam.

The AEC market currently contributes about Bt700 million in annual export value to the company.

Thawee Piyapatana, chairman of PFP Group, said the company was quite confident in the measures and policies being undertaken by the government to recover the economy.

"We have therefore set a goal to grow our revenue by between 15 and 20 per cent this year to reach Bt6 billion in total sales. We are preparing for market expansion to reach more consumers both domestically and overseas. About 60 per cent of our products are for the domestic market and the rest for export," he said.

"Based on changes of consumer behaviour towards seeking ease of access and convenience in their choice of food as well as advertisements nowadays about prioritising one’s health and safety, PFP has continuously developed new products to serve such changing behaviour.

"PFP products are made from ground fish that has been processed by using the most advanced technology in the food-science field with modern machinery and equipment – always keeping quality and the safety of consumers in mind.

"We have plans to expand all distribution channels to serve the increasing number of consumers both within the country and overseas, including tourists and investors who are part of the urbanisation process within the AEC group, as well as to serve the increasing Muslim population.

"All PFP products have been granted halal certification by the Central Islamic [Committee] of Thailand, thus maintaining the customer base and expansion of the halal market in accordance with … the aim of raising Thailand’s position to be among the world’s top five halal food exporters within five years," Thawee said.

PFP products are divided into seven groups: imitation crab-stick group; fish-tofu group; breaded group; fish-ball group; fancy group; other product groups such as barbecue shrimp; and fish and mushroom buns.

PFP exports many products such as fish fusion, Thai fish cake and fish balls to more than 21 countries worldwide including South Korea, China, the Netherlands, Italy, the United States, Australia and New Zealand as well as AEC countries Cambodia, Laos and Myanmar. "We are the first company in the frozen-processed-seafood industry to export products to the CLMV," he said, referring to the sub-region that comprises Cambodia, Laos, Myanmar and Vietnam.

Thawatchai Ratanapisit, executive director of the PFP Group, disclosed that it planned additional expansion through various channels including modern trade, hotels, restaurants and catering.

For overseas markets, the company has three distribution channels: supermarkets, restaurants, and importers in more than 21 countries. It continuously penetrates into new markets such as the CMLV group and the Middle East.

"PFP plans to introduce new products that have undergone a research and development process to serve the expanding health-food market to cater to the modern lifestyles of consumers. We have a dedicated R&D team who continue to research and develop quality and nutritious products on a par with international standards as well as make adaptations to suit all target groups in every corner of the world.

"Moreover, we plan to manufacture retort products that would no longer require refrigeration," he said. Retort pouches allow sterile packaging of foods.