July 5, 2010
Thai seafood producer expects sales growth this year
Prantalay Marketing Co, the manufacturer and distributor of Thailand's Prantalay frozen seafood, expects to achieve its sales growth target of 18% or THB1.3 billion (US$40.11 million) this year due to improved demand and new product launches.
Chief marketing and operating officer Anurat Khokasai said consumer confidence revived once the political situation had stabilised last month. This would eventually lift seafood demand for the rest of the year.
"We have already generated THB600 million (US$18.5 million) in sales so far or a 10% increase, so it should not be difficult to achieve the remaining THB700 million (US$21.6 million) in the second half,'' he said.
Of the first-half sales, 35% came from ready-to-cook frozen seafood, 30% from ready-to-eat seafood, 33% from sushi products and 2% from Click seafood toppings.
Political unrest in Bangkok reduced sales in the downtown area while those in suburban areas surged, he said.
The launch of its noodle bowl in September after market testing since December is another factor that should help sales in the second half. Prantalay Noodle Bowl comes in stir-fried baby clam meat or chili paste and mixed seafood options.
It expects to gain a 5% market share in the cup noodle market next year and 30% in the next three years.
Prantalay hired Namchow (Thailand), the manufacturer of Rice Crackers, to supply its instant noodles.
The company believes that after its noodle bowl launch, many big players will further develop their products. It expects at least THB60 million (US$1.85 million) in sales from its cup noodles next year.
