Anurat Khokasai said the firm was targeting new markets to boost export income. With its increasing affluence and seafood consumption, China represents a market with good potential, particularly in trading cities such as Shanghai and Beijing.

However, Anurat declined to disclose its potential partners in China.

Prantalay is the marketing arm of Union Frozen Products, a leading seafood exporter.

According to the National Bureau of Statistics of China, it is estimated that Chinese gross domestic product per capita will exceed US$7,600 (Bt268,000) this year, up from $7,086 in 2000.

Prantalay will send a team to China to continue negotiations for a business alliance and conduct a market survey by the end of March.

Besides its traditional markets such as the United States, the European Union and Japan, Prantalay started exporting its products to Singapore last year.

It recently cooperated with a Saudi Arabian company to establish its first joint-venture firm for selling its products in the Middle East.

"Rising overseas competition in the food industry has encouraged the firm to focus on new potential markets," said Anurat, adding that Taiwan and Hong Kong will be the company's next targets.

Anurat said the company would also focus more on the domestic market to ensure sustainable growth. It is planning to increase domestic sales to 30 per cent, or Bt2 billion, in the next five years. This would help to balance income because of the baht's fluctuation, he said.

About 90 per cent of the firm's income has previously come from exports. Prantalay achieved sales revenue of about Bt900 million last year and aims for sales of Bt1 billion this year.

The company will conduct strong marketing and promotion campaigns to make Thai consumers aware of the health benefits of eating seafood, Anurat said.

Petchanet Pratruangkrai

The Nation