Tanduay Distillers Inc. plans to double its annual exports to at least 100,000 bottles as the liquor firm expands into new international markets, according to a company executive.
Exports represent less than 1 percent of total sales, accounting for fewer than 50,000 bottles since the company began its overseas expansion strategy.
Tanduay Distillers International business development manager Roy Kristoffer Sumang said overseas volumes have risen annually as the firm enters new territories.
The company is present in markets including Denmark, Japan and India, having added five new markets last year. It is now in talks to expand further into Europe, with a focus on Slovenia, Slovakia, Hungary and other countries in central and eastern Europe.
Sumang said Ukraine has also emerged as a growing market despite ongoing economic and geopolitical challenges.
The distiller is also seeking to reenter Australia and New Zealand. Sumang said the export business offers higher profit margins compared with domestic sales, particularly for premium and high-end products. This allows international trade to contribute significantly to profitability despite lower relative volumes.
