TFM drives low-carbon shrimp for global competition, improving quality with farmers.

Prachachat•Economy•1h ago

Reader Briefing

Thai Union Feedmill (TFM) is focusing on low-carbon shrimp production to compete globally, aiming to boost domestic sales and enhance export quality by working with farmers.

•TFM is transitioning to a low-carbon production model to enhance global competitiveness, particularly against rivals like Ecuador, India, and Vietnam.
•The company aims to increase domestic shrimp sales to 10 billion THB by 2030 and is urging Thai farmers to improve shrimp quality and size for export.
•TFM leverages Thai Union Group's end-to-end market understanding from farming to export to create data for farmers, highlighting Thailand's advantage in low-carbon shrimp.

Overview

•Thai Union Feedmill (TFM) is shifting its strategy towards low-carbon production to address evolving global demands.
•The global shrimp market is experiencing increased production but decreased prices, prompting a need for new strategies.
•TFM is actively communicating with Thai farmers to improve shrimp quality and ensure they meet export market requirements for size.
•TFM has set a sales target of 10 billion THB by 2030.
•TFM is working to reduce production costs and find new markets for farmers' produce.
•Producing shrimp of the correct market size is identified as a critical factor for success.
•Thailand's ability to produce low-carbon shrimp is seen as a significant competitive advantage over countries like Ecuador, Indonesia, and Vietnam.
•Ecuador leads the global shrimp market with a production capacity of 1.5 million tons, growing at 4-5% annually, with China, India, and Indonesia as other major producers. Thailand ranks fifth globally in production and export.

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Key Quotes

Thai Union Feedmill (TFM)

"Today, we are delighted that Thailand can produce low-carbon shrimp for the global market because many competitor countries, such as Ecuador, Indonesia, China, and Vietnam, are not yet using this as a major selling point. This is Thailand's strength, not just Thai Union Group's."

วันนี้เราดีใจที่ประเทศไทยสามารถทำกุ้งโลว์คาร์บอนไปขายตลาดโลกได้ เพราะหลายประเทศคู่แข่ง เช่น เอกวาดอร์ อินโดนีเซีย จีน เวียดนาม ยังไม่ได้ใช้เรื่องนี้เป็น Selling Point มากนัก นี่คือจุดแข็งของประเทศไทย ไม่ใช่เฉพาะกลุ่มไทยยูเนี่ยนฯ

Key Entities

Organization

Thai Union Feedmill(TFM)

The Thai feedmill company promoting low-carbon shrimp production for global competitiveness.

Thai Union Group(ไทยยูเนี่ยน)ℹ️

The parent group to TFM, with end-to-end market understanding in the seafood industry.

Place

Ecuador(เอกวาดอร์)ℹ️

A major global competitor in shrimp production, mentioned as a benchmark for low-carbon efforts.

India(อินเดีย)ℹ️

A key country in the global shrimp market, noted as a competitor.

Vietnam(เวียดนาม)ℹ️

A competitor country in the global shrimp market, alongside discussion of its low-carbon initiatives.

Indonesia(อินโดนีเซีย)ℹ️

A competitor country in the global shrimp market and a nation mentioned in the context of low-carbon shrimp.

China(จีน)ℹ️

A major producer of shrimp and a competitor country in the global market, noted for its current status on low-carbon selling points.

Timeline

2030

The target year for TFM to reach a sales figure of 10 billion THB.