January 2, 2024

 

Thai Union Feedmill saw sales growth for nine months last year

 

 

Thai Union Feedmill, a subsidiary of the Thai Union Group, experienced sales growth for nine months in 2023, achieving sales of up to THB3,801.6 million, a 3.8% increase, Prachachat reported last month.

 

In 2023, the company was expected to make sales of THB5,000 million. Nine  months ago, sales was THB3,801 million, with a profit of THB75.2 million in the second quarter.

 

Thai Union Feedmill's feed output consists of shrimp feed (55% of output), fish feed (34%), sea bass feed (34%) and livestock feed (8%), according to Peerasak Boonmeechote, chief executive officer of the company.

 

Thai Union Feedmill's business plan for 2024 is to focus on marketing shrimp feed. The company will also work with the Thai Union Group in sharing trade information and marketing for shrimp farmers. Additionally, it will support shrimp farmers to meet sustainability standards.

 

Boonmeechote said Thai Union Feedmill will push the development of 250 ponds to expand its share in the shrimp feed market by another 3,000 tonnes.

 

Investing in Indonesia is another key driver of growth for the company.

 

"(There) is a monthly demand of 31,000 tonnes… while our production capacity is 1,000 tonnes per day, it can be increased to 2,000 tonnes. Our goal is to increase our market share in East Java, Central Java and West Java (Indonesia) to 10- 15%," said Boonmeechote.

 

"Currently, the company has a proportion of revenue from the domestic market (Thailand, 70-80%), then Indonesia (20%)," he further shared. He noted Pakistan had helped to drive Thai Union Feedmill's business.

 

"...in the fourth quarter, we invested in a shrimp feed production line together with the (Pakistani) government," Boonmeechote  added.  "(Production sites in) Lahore and Punjab, with a production capacity of 1,000-3,000 tonnes, will begin (achieving) revenue (in 2024)."

 

He pointed out that Thai Union Feedmill will invest another THB200 million (US$5.9 million) in new equipment, bringing in foreign innovations to boost production efficiency, create new products and develop a water recycling system.

 

- eFeedLink