Thai Union Frozen Products, Asia's largest canned tuna exporter, expects its 2008 sales to exceed $2 billion, up 11 percent from a previous projection of $1.8 billion, thanks to strong tuna sales and new products.
"We anticipate strong growth in our second-half operation this year based on our past proven records that usually show good performance during the second-half periods," says Thai Union President Thiraphong Chansiri.
Thai Union, which owns the Chicken of the Sea canned tuna brand in the United States, posted sales of $996 million in the first half of 2008, with tuna representing half of the total and frozen shrimp accounting for 19 percent.
Thai Union expects its second-half sales to get a boost from key markets, including the United States, Europe and Japan, and from increasing demand for its new products, such as canned sardines in South Africa, a company official told Reuters.
Sales of inexpensive seafood products such as canned tuna typically increase during leaner economic times, says the official.