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Issue #592

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Breakbulk Quarterly

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2014 Media Kit

Thailand’s CPF sees an even better H2 as chicken exports jump

By: | at 02:52 PM | International Trade  

Charoen Pokphand Foods Pcl , Thailand’s largest meat and animal feed producer, said on Thursday it expected second-half operating profit to outdo a strong first half, as chicken exports jump in the wake of China food scare.

Some restaurants in the region such as Japanese firms have turned to Thailand to supply chicken after Shanghai Husi Food, a unit of U.S.-based OSI Group LLC, was accused by a TV report to have improperly handled meat and used expired food.

CPF said its shrimp business is also set to improve sharply compared to 2013, when the spread of early mortality syndrome disease halved Thailand’s shrimp production.

It added that its Russian pig farming business will benefit after Russia banned imported meat from the European Union, the United States and other countries.

CPF, owned by billionaire Dhanin Cheravanont’s Charoen Pokphand Group, said on Wednesday its second-quarter net profit more than doubled to 3.55 billion baht ($110 million) thanks to improvements in its farming businesses and overseas operations. (Reuters)