Charoen Pokphand Foods (CPF) seeks to expand in 17 overseas markets, the company announced in a press release.
While all 17 markets were not specifically mentioned in the release, issued on December 24, CPF identified China, Vietnam, the Philippines, Russia and the United States as markets of particular interest.
The Thailand-based agrifood company further stated that the decision to expand in overseas markets was in line with the policy from Dhanin Chearavanont, senior chairman of Charoenk Pokphand Group, to create continuous business growth. The company also noted that in 2019, CPF was able to grow continuously, in spite of slow economic growth in Thailand.
Charoen Pokphand Foods, according to the Poultry International Top Companies rankings, is the world’s sixth largest poultry company and the third largest in Asia, slaughtering 685 million broilers annually. It ranks first among Thai poultry companies. As an egg producer, CPF ranks fourth worldwide and first among Asian companies, with a flock of 22 million laying hens.
As an animal feed producer, Charoen Pokphand Group ranks first globally with an annual production of 27.65 million metric tons of feed for the poultry, pig, ruminant, auquaculture and pet food sectors. The world’s second largest animal feed producer is China’s New Hope Group, which produces 20 million metric feed annually, according to the Feed Strategy Top Companies listings..
CPF in November reported earnings of THB6.06 billion (US$200 million) in the third quarter of the 2019 fiscal year, an increase of 23% when compared to the same quarter of the previous fiscal year.
At the same time, CPF reported that the African swine fever (ASF) outbreak has impacted its pork business, and that the company is expecting farmers to invest more money in effective biosafety management systems to help control the continued spread of ASF.
CPF is also involved in commercial duck production, according to the WATTAgNet Top Poultry Companies Database.
