Betagro unveiled the group’s proactive POWERING CHANGE Strategic Plan which covers five major transformations while addressing challenges and contributing to food security and the economy. The focus will be on research and development to produce a variety of high-quality food innovations, biosecurity in production, and delivering new product alternatives to the market. This will be done concurrently while expanding e-commerce distribution channels and forming collaborations with start-up partners to improve competitiveness and better focus the industry on sustainable development.
Vasit Taepaisitphongse, Chief Executive Officer and President, Betagro Public Company Limited, said, Global events, including the spread of COVID-19 in facilities, the emergence of Omicron sub-variants which are easily transmissible, and the ongoing Russia-Ukraine conflict, are impacting various industries around the world. These factors, in turn, are affecting the production cost of goods and services, and significantly impacting changes in consumer behavior. There is also the need to monitor possible animal disease outbreaks, consumer expectations on business contributions towards sustainable development, and finding new indicators to measure business success by focusing more on the social context rather than growth in purely quantitative terms. These factors continue to pose challenges and effects on the economy, industries, and society.
To cope with these challenges and changing consumer behaviors and needs, businesses in the agro-industrial and food industries must look for opportunities and continue expanding into new businesses. As a member of an industry that prioritizes the continuity and sustainability of its operations, Betagro has biosecurity systems in place for production, allowing for the safe delivery of quality food to consumers. The company can develop better quality pork products free of chemicals and antibiotics, which can be harmful to consumers, while managing the supply chain for agricultural and food products with the highest efficiency and increasing distribution channels to better reach and meet the changing needs of consumers.
Vasit added that this year, the company is focusing on supporting a better quality of life for people in all aspects. Betagro laid out its “POWERING CHANGE” strategy to drive business growth by joining all of the forces in its organization to drive internal changes, ensuring readiness to address impending challenges and contributing to economic and food security. The strategic framework covers five key areas:
- Supply chain resilience: Focusing on management across the supply chain to reduce business impacts while creating opportunities and focusing on biosecurity and livestock.
- Digital transformation: Deploying technology to enhance efficiency, powered by faster speeds and improved precision to achieve a full-scale Smart Transformation through six modules: Big Data, Smart CRM, Smart Farm, Smart Factory, Smart Operation and Smart Quality, creating new experiences with customers, partners and improving competitiveness.
- People transformation: Restructuring to become a high performing organization to better develop the digital skills of employees bringing out their full potential.
- New business: Seeking business opportunities to improve or develop new products, as well as harnessing technology and innovation to meet market demand.
- Sustainability: Creating shared value with all stakeholders by operating in accordance with ESG guidelines, in support of the United Nations Sustainable Development Goals (SDGs) focusing on four key areas: To end hunger and achieve food security; promote good health and the well-being of people; ensure responsible consumption and production patterns; and support partnerships for sustainable development, all of which are directly in line with the Betagro’s business operations.
In addition, the company attaches great importance on sustainability by laying out business guidelines that apply the circular economy principles as a framework, encompassing local water management, supporting clean energy which includes the use of renewable energy from solar panels for buildings and factories, managing waste by using biomass energy derived from livestock production, and reducing waste from disposable packaging in offices and the production process. The company has assessed greenhouse gas emissions at the corporate and product level and is looking to qualify for the Carbon Footprint for Organization and Carbon Footprint of Product labels. Betagro is also driving local community development projects through an area-based and holistic approach in partnership with communities to achieve a sustainable quality of life.
The company’s focus and efficient operations helped it successfully get through 2021 despite several domestic and external factors impacting the business. As of December 31, 2021, the company recorded 85.4 billion baht in revenue from the sales of goods and provision of services, an increase of 6.6% from 80.1 billion baht in 2020, due to growth in both domestic and international markets, comprised of 29% revenue from the agro business, 63.4% from the food and protein business, 5.7% from the international business, 1.8% from the pet business, and 0.1% from others. This revenue growth was driven by higher sales volume across each segment together with expanding production capacity in Laos and Cambodia.
“We believe that everyone must have a better choice and access to quality and safe food at a fair price – this is essential to our lives and the foundation of sustainable development. This aspiration drives our business. We will strive to deliver food and services to support people to stay healthy as long as they live, and play an important role in contributing to the development of the food industry with a sense of consistency and determination,” concluded Vasit