3/4/2005 Thai Press Reports - Thai Vegetable Oil, manufacturer of A-ngoonsoybean cooking oil for almost 37 years, is now studying a variety ofnatural ingredients for use in a new premium product targeted athealth-conscious consumers, The Nation reports.

After concluding research later this year, the company will launch the newproduct under either the old A-ngoon brandname or a new one.

"We're looking at several ingredients, including sunflower seeds, olivesand corn," said Rungtip Chutchawalwate, assistant executive generalmanager. She said the new cooking oil would be targeted at consumers withstrong health concerns.

"It'll conform to current trends in health and wellness. Health-relatedproducts are showing 70-80 per cent annual growth," said Rungtip, addingthe new product's launch would be in line with the company's strategy offocusing on quality.

Meanwhile, Thai Vegetable Oil yesterday announced the results of itsretail audit by ACNielsen. The A-ngoon label led the local soybeancooking-oil market with a 53-per-cent share last year, up from 48 per centin 2003.

Major rival Morakot maintained its market share of 19 per cent last year,while rival Cook experienced a drop, from 23 per cent in 2003 to 17 percent.

Thai Vegetable Oil's jump was due to the company's organisationalreshuffle in which sales and marketing have been combined.

Chanvit Vitayatanagorn, a third-generation member of the Vitayatanagornfamily, the company's founders, serves as senior sales and marketingmanager.

He said, "We [A-ngoon> have been the market leader in this segment formore than 10 years, because we stick to quality and don't play around withour pricing." He said the company had set an ambitious target forincreasing A-ngoon's market share another 3-5 per cent this year.

"We're going to focus on below-the-line activities that will educateconsumers about the health benefits of no-cholesterol oil," he said.

Chanvit said the company would allocate Bt100 million for its marketingbudget this year: 70 per cent for below-the-line activities and 30 percent for media advertising.

He added the A-ngoon Mobile Kitchen would go on a road show, appearing atmore than 100 locations around Bangkok and major upcountry cities,demonstrating the uses of soybean cooking oil and educating consumers onits benefits.

A separate team will visit more than 100 office buildings, schools andhospitals around Bangkok.

He said Thailand's total cooking-oil market reached Bt8 billion in saleslast year, 30 per cent from soybean oil.

"The market potential for soybean cooking oil is good. We hope to convert3-5 per cent of consumers who use other kinds of cooking oil to soybeanoil this year," said Rungtip.

Thai Vegetable Oil recorded total revenues of Bt12.6 billion last year, 30per cent from the A-ngoon brand.