Celebrating its 80th anniversary, Hong Thong (Golden Phoenix) rice has evolved from a small mill to a leading global supplier.
Turnover of its high-quality 100-per-cent jasmine rice last year was 250,000 tonnes, a 15-per-cent increase over 2016.
From current production capacity of 300,000 tonnes per year, the company expects sales of 400,000 tonnes per year in the next five years.
For health-conscious consumers, the company recently launched Zuper Rice, with six times more anthocynanin than is found in typical brown rice.
In the third quarter, the company will launch a new fluffy and tender rice at a reasonable price in a market worth Bt50 billion.
Proactive marketing, brand strengthening, engagement with consumers and honesty are the hallmarks at Hong Thong, whose motto is “Quality, fair price, serve honestly”.
“We started out trading milled rice and then expanded to overseas markets,” said Vallop Manathanya, chairman of Bangsue Chia Meng Rice Mill Co Ltd (BSCM).
“Our philosophy is to maintain high quality, keep our promises and conduct our business honestly. This mindset has encouraged business growth for 80 years and that will continue in the future too.
“Other very important factors behind our success are taking good care of our upstream and downstream partners – the suppliers, customers, farmers, mills, financial institutions, packaging manufacturers – and our international distributors in the United States, Canada, Hong Kong, Singapore, Guam, Japan, etc, as well as great support from the sector.”
Though sales volume rose in 2017, sales value declined slightly because of a drop in the market value of rice, Vallop said.
Hong Thong, the company’s own brand, accounted for more than 85 per cent of total sales volume. Overall, 95 per cent of sales were in jasmine rice and the rest in the company’s three other brands.
Since most sales were generated from the company’s own brand, it ensured a high degree of stability.
“In the next five years, the company projects export volume at 400,000 tonnes, or 10 per cent growth per annum, with the targeted export value between Bt9 billion and Bt10 billion,” Vallop said.
“At our rice mills in Nonthaburi, Si Saket, Roi Et and Suphanburi, which are points of purchase, and our production plants for white rice and fragrant rice, our total production capacity has reached 300,000 tonnes per year.”