PT Panca Mitra Multiperdana Tbk (PMMP) has secured sales contracts for shrimp products worth US$90 million from consumers, especially those domiciled in the United States (US) and Japan until February 2021.

Panca Mitra Multiperdana Corporate Secretary Christian Jonathan Sutanto said, this year, the company targets an 11 percent increase in sales volume to around 20 thousand tons.

"We are also targeting an 11 percent increase in sales to US$190 million this year, while the net profit is targeted to reach US$12 million," he said in Jakarta, Monday (1/3).

The increase in sales, according to Christian, was followed by the company's efforts to create new variants of value-added products, such as garlic butter marinated shrimp, a ready-to-cook processed shrimp product that the company began exporting in February 2021.

To note, the demand for Indonesian shrimp exports to the US is experiencing an increase. The rising demand is an excellent opportunity for the company to increase its export sales, especially to the US. In 2020, the volume of shrimp exports from Indonesia to the US will increase by 20 percent.

"Indonesia is the second-largest exporter to the United States. Last year, we managed to record around 14,500 tons of exports to the US, up 23 percent from 2019 sales of 11,800 tons, "he explained.

On the other hand, the company is building its 8th factory this year with the progress that has reached 30 percent. The company targets to complete the production facility around July 2021.

This factory is located in Situbondo and plans to produce a new variant of value-added products, especially pre-fried breaded shrimp products.