CPF five-year focus; “India, Vietnam, Russia and Philippines”
Charoen Pokphand Foods (CPF) fve year business plan has identified India, Vietnam, Russia and the Philippines as its “top priority markets for expansion, says president and CEO Adirek Sripratak,
“because we plan to access those markets where we believe we can win”!
CPF’s yearly investment budget of which 60% will be spent overseas in these four countries, and the aim is to “increase CPF’s overseas sales from 26% to 40% by 2015”.
In Vietnam, CPF is expanding businesses including pig, chicken, fish and shrimp farms, feed mills and shrimp hatcheries, while in Russia, the focus will be on pig farms – two of the planned 10 already running – and more investments in feed mills to serve the pig farms.
The Philippines, a high consumption market where the population growth is estimated at 2%, CPF operates pig, chicken, fish farms and shrimp hatcheries.
Earnings from overseas investments in its main markets in Taiwan, Turkey, India, Malaysia, Russia, Laos, the Philippines and mainland China, are expected to surge 66% in this year’s first quarter and 6% year on year, driven by higher meat product prices amid short supply and strong demand.
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