CP Group will launch another specially developed fish called Jade fish and is restructuring its business at the same time.
Ruby fish or Phla Tap Thim (ปลาทับทิม) is a type of fish popular for fish farming in Thailand (a type of Tilapia fish, see below).
I first encountered them in a small village on the Mekong south of Chiang Saen in Chiang Rai province.
The farmer supplemented his more conventional rice and vegetable growing income by contract farming Ruby fish for CP Foods.
In addition to introducing this new variety of fish, business restructuring will ensure that CP Foods derives equal shares of revenue from each of its three types of business: farming, food and animal feed.
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CPF hopes new Jade fish will lead revenue surge by Phusadee Arunmas
Charoen Pokphand Foods Plc (CPF), the SET-listed flagship of the Charoen Pokphand Group, is rolling out a more aggressive expansion plan for its processed food business, aiming to raise its revenue growth from the sector to at least 25% next year.
Jade fish has taken CPF four years to develop and will be available commercially next May.
Growth is expected to be driven particularly by "Jade fish," a new product the company took four years to develop, said Somsak Hongsrichinda, consultant to the president and CEO of CPF.
The Jade fish has been cultured for several years in Phetchaburi and Prachin Buri using CPF's proprietary technology. The fish will be introduced as fillets, ready-to-eat meals and freshly caught, mainly through leading supermarkets and CP Fresh Mart, in May next year.
CPF is determining a price for the fish and aims to sell about 400 tonnes next year. Pricing is expected to be similar to salmon, he said.
CPF also sells Nile tilapia (pla nil), red tilapia (pla thapthim), and sea red tilapia.
Fish is a key part of CP's food business development plan as it sells 70,000 tonnes of fish products a year.
Its business restructuring involves three main industries: feed, food, and farming. The restructuring aims to increase revenue from the food sector to 30-33% of the total from about 20% this year. Animal feed already generates 35%, which it expects to maintain.
Farming revenue, particularly from chicken and duck farms, would be pared from 47% to one-third as well...
(Source: Bangkok Post, business section, Economics, CPF hopes new Jade fish will lead revenue surge, 29/11/2010, Phusadee Arunmas, link)
Charoen Pokphand Group - the largest business conglomerate in Thailand (See Wikipedia)
Charoen Pokphand Foods (CPF), CP Foods - the food subsidiary of Thai conglomerate Charoen Pokphand (See Wikipedia)
tilapia - a type of fish that is increasingly popular for fish farming worldwide: "known in Thai language as Pla Thaptim (Thai: ปลาทับทิม), the Tilapia Oreochromis niloticus is very popular in Thai cuisine" (See Wikipedia on Tilapia and Aquaculture of Tilapia)
fish farming - raising fish in tanks and ponds for sale as food or as pets (See Wikipedia)
aquaculture - includes fish farming as well as shrimp, abalone and other water animals (See Wikipedia)
supplement - add
conventional - what is usually or normally done
contract farming - when farmers produce agricultural products for a company under a contract (guaranteeing the farmer a predictable income, at least in theory)
revenue - income from the business activitie of a company รายได้
surge - a sudden increase in something การเพิ่มขึ้นอย่างรวดเร็ว
SET-listed - stock shares of the company are traded on Thailand's Stock Exchange (SET)
flagship - the most important in a group of things owned by a company (for example: flagship company, flagship publication) (See glossary) ที่เป็นตัวนำ ที่สำคัญที่สุด
roll out - introduce a new product or service (and start selling it in markets)
aggressive - determined to win or succeed, done with great force, energy and intensity in order to achieve victory or success ก้าวร้าว, ซึ่งมีความมั่นใจสูง (See glossary)
expansion - when something increases in size, number or importance การขยายออก
processed - treated in some way, e.g., treated with chemicals, cut, etc.
sector - a part of the economy ภาค (ทางเศรษฐกิจหรือสังคม) (public sector = government, private sector = all businesses, household sector = families and consumers, banking sector,...) (See Wikipedia)
available commercially - will be sold in stores
expected - believe will happen คาดว่า (จะเกิดขึ้น)
cultured - raising an animal, feeding, taking care of it and helping it grow
proprietary - owned by a company
fillet - a boneless cut of lean meat or fish, a single side of the body of a fish with the bones removed (See Wikipedia)
ready-to-eat meals - (See CP Foods ready-to-eat products)
key - important คนสำคัญ
development - the gradual growth and formation of something
business development - starting a new business and helping it grow (entering a new market and attracting customers) (See Wikipedia)
business restructuring - changing a business to make it work better, "reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs. Alternate reasons for restructuring include a change of ownership or ownership structure, demerger, or a response to a crisis or major change in the business such as bankruptcy, repositioning, or buyout. Restructuring may also be described as corporate restructuring, debt restructuring and financial restructuring" (See Wikipedia)
animal feed - food for animals
maintain - keep at the same level or in the same situation
pared - reduced
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