Cassava-based ethanol maker Ubon Bio Ethanol Plc (UBE) expects its total revenue to grow by 15-20% this year, driven by high value-added products.
UBE launched gluten-free flour, aimed at consumers who are allergic to gluten — a protein found in wheat and other grains.
The company launched gluten-free flour, aiming to sell it to consumers who are allergic to gluten, said senior executive vice-president of business development Sureeyot Khowsurat.
"UBE also plans to develop organic coffee and rice because both products have high potential to generate sales and receive a good response from the market," she said.
UBE plans to allocate investment budget worth 1.4-1.5 billion baht in 2022.
The money will go to cassava flour production expansion valued at 400-500 million baht. Around 1 billion baht of the budget will be used for its merger and acquisition (M&A) plan.
"The company expects to conclude two M&A deals this year on organic rice, bakery and sweetener businesses," said Ms Sureeyot.
Chun Phokaisawan, senior executive vice-president for finance and accounting, said the company recorded total revenue of 6.96 billion baht last year, an increase of 57.1% year-on-year. Its profit stood at 321 million baht, a gain of 223% year-on-year.
"That was our best performance since the company started the business," he said.
Last year UBE allocated 400 million baht to increase production capacity of its gluten-free Tasuko flour to 300 tonnes per day, up from daily capacity of 100 tonnes.
The outlay aimed to serve "exponential growth" of consumption of gluten-free flour, which is made from organic cassava.
The firm plans to launch organic cassava-derived flour with distinctive features, including low sugar content and high fibre, said Mr Chun.
Flour with high fibre has the potential to be developed into a wide variety of food products such as assorted pasta, noodles, ramen and bakery pre-mixes.