CP Foods, Uoriki ink deal to bring fresh seafood to Thailand

CP Foods has signed a memorandum of understanding (MoU) with Japan’s leading fish retailer Uoriki Co. to import more premium fish species from Japan to Thailand.

CP Foods said the partnership will bring to the Thai Market “high-quality fresh fish and seafood supply under Japanese standard at a more affordable price,” beginning later in 2022.

The two companies will begin a cooperative marketing and distribution strategy “to serve rising demand for high-quality food from Japan in major cities across Thailand,” according to CP Foods.

“Currently, Thai people has placed importance on healthy lifestyle and Japanese seafood dishes are considered by Thai people as a very healthy product,” CP Foods CEO Prasit Boondoungprasert said in a press release. “Fish is a high-quality protein food with nutrients that are beneficial to the body and delicious. The partnership with Uoriki will allow both companies to supply finest seafood choices nationwide.”

Tokyo, Japan-based Uoriki is a seafood retailer, wholesaler, and foodservice supplier. It operates 69 stores in Japan selling fresh seafood, as well as 13 sushi shops and 14 restaurants, and supplies seafood products to the domestic foodservice and U.S. grocery sector. It is the only seafood retailer listed in the top tier of the Tokyo Stock Exchange. In a release, Uoriki said it also expects the partnership with CP Foods to help “spread the good food culture of Japanese people to Thai people.”

Bangkok, Thailand-based agro-industrial and food conglomerate CP Foods reported a sales revenue of THB 512.7 billion (USD 15 billion, EUR 14.2 billion) and a net profit of THB 13 billion (USD 380 million, EUR 360 million) in 2021. Its operations were affected by the COVID-19 outbreak in Thailand and Vietnam, which impacted regional consumer purchasing power and contributed higher operating costs. But the company said it expects a full recovery by 2022 along as the pandemic’s impact on the market subsides.

Photo courtesy of CP Foods