January 24, 2008

Thailand's Charoen Pokphand Food sees unhampered growth in 2008

Charoen Pokphand Food said that 2008 earning will be better than last year despite reducing forecasts and target price to THBt4.90 (US$0.16), from THB5.85 (US$0.19).

CPF acknowledged that global meat prices, especially poultry and swine, are still on a long upward trend.

However, the company still counts on high meat prices and increased demand which would mainly come from China and India. Both countries have switched to consuming more protein as incomes rise.

With flourishing exports and domestic prices promising to rebound, CPF expressed confidence on 2008 sales.