March 21, 2005

Charoen Pokphand reports 1.9 percent increase in shares

On Monday, as the European Union and Japan approved the Company's sixth factory as a source of cooked chicken imports, there was a sharp increase of 1.9 percent in the shares of Charoen Pokphand Foods PCL, a leading Thailand poultry firm.

At 0455 GMT, there was a rise in Charoen Pokphand Foods by 1.9 percent to THB4.24, with active trading value of THB132.0 million. The Stock Exchange of Thailand Index was down by 0.3 percent at 708.99 points.

Last Thursday company announced the approval of EU and Japan thus from then its stock price has risen more than 7.6 percent.

According to the company the export of cooked chicken will double in 2005.

After a confirmation of bird flu in Thailand on January 2004, the country's two largest cooked chicken importers Japan and the EU banned Thai chicken imports.

Japan and EU later approved cooked chicken imports from processing plants which meet their requirements.