March 6, 2007

Top Thai seafood producer expands into dried seafood sector

Prantalay Marketing, the top seafood producer in Thailand, is expanding into dried seafood in a bid to boost sales after achieving spectacular growth with its frozen foods and ready to eat seafood segments.

The company is now seeking partners to help expand its frozen seafood markets in Asia, local Thai newspaper The Nation reported.

The company aims to increase its distribution channels to up to 6,500 nationwide as it targets revenue of at least Bt1 billion (US$30.3 million) this year.

Prantalay announced revenues have grown for the third consecutive year in 2006 to hit more than THB750 million (US$22.7 million).

Chief executive officer Thongchai Tavanapong said the company was planning to expand its seafood lines into at least another 100 outlets and to form partnerships with retail chains in the chilled-seafood segment.

Ready-to-cook products, ready-to-eat products and sushi all accounted for nearly a third of the company's revenues. The rest of the products seafood sausages, desserts and cookies.

Last year, the company rolled out it ready-to-eat frozen food for both breakfast and lunch. It also joined with Japanese firm K&U Enterprise to produce and distribute Japanese foods such as sushi and sashimi along with new innovations such as seafood buns, seafood congee, shrimp wanton soup and pranprai desserts.