Betagro outlines four strategies to accomplish 5–10% sales growth
A Thai food manufacturer Betagro PCL (BTG) recently unveiled four strategic plans to meet domestic demand and the growth of international markets.
The company’s president and CEO Vasit Taepaisitphongse noted that the company's 2023 strategic plan has incorporated all major drivers to achieving the corporate objectives.
"The company's 2023 strategic plan will be instrumental to attaining our target sale growth of 5-10% and reinforcing the goal of becoming a leading global food brand for sustainable life," he added.
Vasit said he forecasted that food consumption will increase this year thanks to the improvement of the pandemic situation and the reopening of the country.
“In the short term, the price of live hogs in Thailand fluctuates owning to the smuggling of genetically modified hogs," he said.
He said, however, that good supply site management can help stabilise the price of hogs, noting that it has become increasingly more stable recently.
Meanwhile, the price trends and broiler exports are expected to move upwards as well in the second and third quarters as compared to the slowdown in the first quarter of 2023, he said.
Hence, Betagro has formulated four strategies to drive its business, which are:
1) The company will invest in new production plants and upgrade existing facilities to be more efficient to accommodate increasing sales opportunities.
2) Betagro focuses on introducing new product offerings to the food and protein-based market segment, comprising chicken and swine products. The company also aims to expand the ready-to-cook and ready-to-eat foods segment to support the lifestyle of modern consumers.
3. The company is going to use BTG's Research and Development Centres to develop premium products namely:
- Food and Protein business by the Food Innovation Centre (FIC) which covers the S-Pure brand that comes with super-premium meat products made entirely from natural flesh in top quality and safety.
- Pet business by the Pet Innovation Centre (PIC) which dedicates to developing premium products that meet the needs for health and wellness.
- Agro-business by the Agro Innovation Centre (AIC) that is tasked to develop premium-grade feed for swine, cattle and layers to meet the increasing demand for premium products.
4) Betagro aims to expand its international business and overseas market by investing in Cambodia, Laos and Myanmar with the establishment of new factories and improving the existing facilities for better efficiency.
