Panca Mitra Increase Value Added Product Sales to US

PT Panca Mitra Multiperdana Tbk (PMMP) increase sales to the United States market, which rose 11.2% to US$ 74.3 million in June 2021. Meanwhile, the company’s overall sales volume increase to 9,677 tons compared to the previous year at 9,412 tons.

According to Christian Jonathan, Corporate Secretary of PMMP at the end of September 2021, the increase was supported by the rise of economic activity and food service industry in the US which was paralyzed by the corona pandemic last year.

“The growth and recovery of the United States economy is a positive catalyst for companies to increase the export,” Christian said.

In addition, PMMP also increase the portion of value added products sales as the supply in US still small even though the demand very high. This strategy carried out to reduce raw shrimp sales as the competition in this segment getting hard, especially from India and Ecuador.

PMMP recorded a net profit US$ 6.14 million on first semester 2021, 16.7% increase compared from US$ 5.26 million on first semester 2020.