Thailand’s CPF moves away from commodities
Increases production of cooks and ready-to-eat foods
Charoen Pokphand Foods Public Company Limited (CPF) is moving to balance its portfolio of commodities, feed and consumer food products over the next five years, according to an interview with Adirek Sripratak, CPF’s president and chief executive officer, in the Bangkok Post.
Currently, the mix of its international business is 45% farms, 35% feed and 20% food products. The company’s goal is to make each sector one-third of its total business. "From now on, investment in farms such as in chicken, swine and marine products would be very little. We've tried to lower our role in commodity trade," Adirek said.
Within Thailand, the company’s cooked and ready-to-eat foods portfolio is growing rapidly, he said. CPF plans to open more of its CP Freshmart and 5-Star Chicken retail stores in the upcoming years. It also plans to increase chicken exports from 95,000 tonnes in 2009 to 100,000 tonnes in 2010 and shrimp exports from 35,000 tonnes to 50,000 tonnes.