Thai Wah reveals business direction for 2024, highlighting agricultural and food innovation. Expand new business platforms

Thai Wah Public Company Limited or TWPC Southeast Asia’s agricultural and food business leader for over 76 years announces success in 2023 with sales exceeding 10 billion baht and reveals strategies to become a leader in the global agricultural and food market by 2030, reflecting Committed to developing innovation and moving towards sustainability Thai Wah has started new projects. That will lead to many successes in 2024 and in the future.

In 2023, Thai Wah celebrated its status as one of the top performing agricultural and food companies in Southeast Asia. Key achievements include merchandise exports growing 3-fold over the past five years and the food business continuing to grow at a compound annual growth rate of 7%. This includes expanding a new factory in Cambodia and opening an office in India. The company also more than doubled its sales in China and Indonesia. Along with the launch of innovative products, it has helped to increase the company’s revenue and profits strongly. As for the specialty tapioca starch business, the profit growth rate in the portfolio of high value-added products was more than 25%.

In addition, from its past dedication to environmental, social and governance (ESG) operations, Thaiwa has been recognized in this area. This includes receiving a level A ESG rating from the Stock Exchange of Thailand. and capturing farm sustainability standards from the SAI platform, including hosting the 2nd SEA Agri Food Roundtable in Bangkok.

Mr. Ho Ren Hua, Chief Executive Officer, Thai Wah Company Limited. (Public) said, “Thai Wah has planned and developed a portfolio of products that are balanced on a world-class level. This is an important basis for building our growth. Thai Wah is one of the few agricultural and food companies in the region. with complete potential since ‘Production source until delivery to the consumer’ We are ready to bring these strengths to seek new opportunities. There is still a lot of demand in the market for raw materials and food products with good value.”

Becoming a world leader in food and agriculture

In 2024, Thai Wah intends to expand its food business, which is its core business. By presenting new products that responds to changing customer needs The goal is to create 20% more growth for the overall business. The company will adjust its portfolio strategy by expanding its range of high value-added products and organic seasonings.

In terms of the mechanism driving business growth Thai Way continues to expand into new businesses. It aims to create growth in this segment at 1 billion baht by 2030, which will focus on developing bio-fertilizer solutions under Thai Wah’s model of sustainable agriculture and regenerative agriculture. That has a positive impact on the company’s efforts to reduce greenhouse gas emissions in Southeast Asia. Thai Wah is also promoting its sustainable bioplastic solutions. To increase demand for use in target markets including Thailand, European countries, and South Korea through new channels and usage formats. The new business aligns with the company’s goal of reaching net zero greenhouse gas emissions by 2050 and encourages farmers in Asia Pacific to cultivate sustainable and regenerative agriculture.

Thai Way also joins in building a resilient agricultural and food ecosystem. by promoting sustainable agricultural practices in Southeast Asia that aims to create positive change for more than 1 million farmers in the region by 2030. Thai Wah has received silver certification from the Sustainable Agriculture Initiative (SAI) sustainability assessment platform. For cassava farms in Thailand and Cambodia This is an important step for Thai Wah in sourcing raw materials from sustainable sources.

“With these strategies and operations We are confident that Thai Wah will become one of the world’s leaders in agriculture and food by 2030 and support a strong and sustainable agriculture and food industry in the future. We will continue to develop innovation. Promote sustainability and enhance the well-being of the communities in which we operate.” Mr. Ho Ren Hua say

Today, TWPC is Southeast Asia’s leading agricultural and food business. It operates in seven countries and has 17 factories and offices. Its portfolio spans consumer food products. Cassava starch and modified cassava starch including food ingredients for B2B and bioplastic products from tapioca starch under the ROSECO brand. Thai Wah’s diverse portfolio includes tapioca starch, modified starch, glucose syrup. Tapioca Pearls and rice flour There are also many food products such as vermicelli, rice noodles, meal sets and instant noodles. which is sold both domestically and internationally in more than 40 countries around the world