Japan’s Goyo Food Industry to produce frozen cakes in Thailand
TOKYO, NNA – Japanese frozen confectionery maker Goyo Food Industry Co. has started producing frozen cakes in Thailand in partnership with a local peer, shifting from exports from Japan to cash in on local demand.
The move marks the company’s first production overseas, making frozen cakes at a factory of Srifa Frozen Foods Co. in the west of Bangkok to supply them to convenience stores, café chains and hotels among other businesses, Shinya Fujinaga, a director of Goyo, told NNA on Monday.
The Japanese sweets maker had exclusively teamed up with Srifabakery Co., an affiliate of Srifa Frozen Foods, in 2014 for sales in the Southeast Asian country but stopped shipments as the prices of the cakes remain high for local consumers, Goyo said in a statement on Monday.
In a bid to offer such cakes at lower prices, the Japanese firm based in Itoshima, Fukuoka Prefecture in southwestern Japan, has decided to share its expertise in specifications and recipes for frozen cakes with the Thai group to begin local production at the plant in Kanchanaburi Province, it said.
From this month, baked cheese cakes will be put on sale at 40 baht ($1.3) a piece, said the director in charge of marketing overseas.
Under the partnership, Goyo Food Industry has the rights to supply locally produced frozen cakes to its own sales channels in Thailand and exports to overseas markets, according to the statement.
Goyo Food Industry currently exports products from Japan to Hong Kong and the United States, and aims to expand sales in foreign markets from 35 million yen ($325,000), equivalent to 3 percent of total group sales, to 10 percent in the next two years, Fujinaga said.