November 7, 2007

Thailand's TUF forecasts 7 percent increase for 2008 tuna revenue

Thai Union Frozen Products PCL, Asia's leading exporter of canned tuna, projected a 7 percent increase for its 2008 total revenue as it planned new products.

TUF's "Chicken of the Sea" product still accounts for one third of the company's earning as mentioned by company president, Thiraphong Chansiri. Currently, TUF is on track to achieve its 8-10 percent increase in revenue for this year.

The company however, did not disclose any of its new products. Chansiri said that TUF would increase exports to Europe after a lower import tariff has been reinstated last year. Japan is also another target for more exports as it is also expected to drop its tariffs after the Thai-Japan free trade agreement signed last year.