CPF investing 40 billion baht to strengthen farm businesses
Charoen Pokphand Foods Plc. (CPF) plans five year investment of 40 billion baht to strengthen its farm, farm-related and food businesses.
The investment is in both domestic and overseas markets through 2015, revised upward from the earlier 30 billion baht, to become one of the world’s major food suppliers, says Adirek Sripratak, CPF president and CEO.
The current increase in food prices are anticipated to increase CPF’s sales and net profits year-on-year from overseas operations, he says, adding that this year would see the expansion of existing overseas businesses as well as investments in CP operations in Cambodia, Russia and Malaysia and other overseas countries, from 26% in 2010 to 40% in the next five years.
CP’s Chicken exports remain the major income contributor with overseas shipments of 90,000 tonnes this year with shrimp products export revenue forecast to rise by 40% on volume of 70,000 tonnes.
(By Joyce Rainat)