Indonesian frozen food processor, PT Panca Mitra Multiperdana Tbk (PMMP), is gearing up to maximize sales through strategic expansion into new export markets. According to Christian Jonathan, Corporate Secretary of PMMP, the United States remains the company’s main contributor to sales, but if demand from the US market does not improve, PMMP is prepared to target new markets, including China.

Eyeing China as a New Market

PMMP is currently studying the Chinese market and aims to start exporting to China in the third quarter or fourth quarter of this year. This move is part of the company’s strategy to diversify its export markets and reduce reliance on the US market.

While the local market is still growing, PMMP’s sales volume in Indonesia remains relatively low compared to its export sales. In the first quarter of 2024, PMMP reported sales of USD 49.61 million, a 10.10% decline year-on-year from USD 55.18 million in the same period last year. The company’s sales were driven by exports to the US (USD 40.13 million), Asia (USD 8.37 million), and Europe (USD 1.10 million).

Optimistic About Meeting Sales Target

Despite a slight decline in performance compared to the previous year, PMMP is optimistic about achieving its sales growth target of 10%-20% by the end of this year. The company attributes this optimism to increased production capacity and plans to add new export markets.

PMMP does not have any business expansion plans for 2024, as it has just completed the construction of its ninth factory last year. Instead, the company will focus on maximizing the utilization of its new factory and increasing production capacity to meet growing demand.