Adirek Sripratak, president and CEO of
CPF, flagship of the
CP Group, said, “CPF (Overseas) will have an initial registered capital of €6.43 million, 99% held by CP’s wholly owned subsidiary CPF Europe and operations are planned to begin later this year. CPF’s investment would start with feed production and pork processing, which would benefit CPF’s future profits in three to five years. Russia’s local pig production failed to meet growing demand for pork, currently satisfied by imports ranging between 500,000 to 800,000 tonnes per year.”
A recent survey showed that Russians consume about 2.5 million tonnes of pork and a similar amount of poultry annually.