January 10, 2008

CPF invests US$10-million in Indian feed mill

Charoen Pokphand Foods (CPF) confirmed the investment of around US$10 million for its third feed mill in India as the country boasts of strong growth in marine products.

Pinij Kungvankij, senior vice-president for foreign aquaculture business development of CPF, said that the company is confident about the development of the aquaculture business in India.

Pinij added that substantial expansion of shrimp farms across the country and the growing local consumption encouraged the company to invest more.

India's Marine Products Export Development Authority reported that shrimp and prawn produce totaled to 185,820 in 2005, consuming around 183,433 hectares of ponds.

The marine authority forecasts that India would allocate 10,000 more hectares to raise freshwater prawns and marine shrimps by 2008-09.

CPF's third mill will be located on the west coast of India this year and will start operations at the start of 2009.

It has the capacity to produce 80,000 tonnes of shrimp feed a year, contributing to the total annual feed output from CP in India at 250,000 tonnes.