Shares of Betagro (BTG) rose two consecutive days as the SET-listed integrated food manufacturer announced the launch of its first feed mill in Laos to strengthen its presence in the region and increase international revenue by more than 22% this year.
Betagro is investing 650 million baht to build its first feed mill in Laos with a production capacity of 108,000 tonnes per year.
The move is to develop products from upstream to downstream, expanding distribution channels for meat products and processed foods to modern retail stores and Betagro shops.
The company has 135 farms in Laos with pigs and poultry, selling fattening pigs, broilers and layer hens. The firm also has four Betagro shops.
"Betagro's international strategy for 2024 focuses on expanding our business in Asean," said Worrawut Vanitkulbodee, chief operating officer for international business.
This strategy reinforces Betagro's position as Thailand's leading integrated food company, he said.
The company is working towards building a robust food industry foundation, covering the entire supply chain in Cambodia and Laos, which are the main revenue-generating countries for the international business group, said Mr Worrawut.
In Cambodia, Betagro operates one feed mill in Phnom Penh, 425 pig and poultry farms and six Betagro shops.
The company also operates a joint venture in Myanmar with local partners.
"Myanmar is an attractive market in Southeast Asia, but it needs to be closely monitored and continuous research is needed to conduct business there, which requires caution and the utmost consideration," he said.
"Betagro is continuously looking for growth opportunities by expanding its business into new countries. For our international expansion, we are focused on building a strong foundation for the food industry from upstream to downstream to deliver quality, safe products that meet international standards for all consumers."
This year, the international business is expected to achieve revenue growth of more than 22% year-on-year, said Mr Worrawut.