August 28, 2024

 

Thailand's CPF reports 9% revenue growth in Vietnam, driven by farming sector

 
 


Thailand's Charoen Pokphand Foods Public Company Limited (CPF) has reported a revenue of THB 63,581 million (US$1.85 billion) from its Vietnam operations in the first half of this year, marking a 9% increase compared to the same period last year, The Investor reported.

 

The farming business, which includes animal breeding, live animals, and processed meat and eggs, emerged as the largest contributor, generating THB 43,058 million (US$1.26 billion). This represents a 19% year-on-year growth and accounts for 68% of CPF's total revenue from Vietnam.

 

The animal feed segment followed, contributing THB 16,308 million (US$475.5 million). However, this was a 10% decline year-on-year, making up 26% of the total revenue. The food segment saw a 9% growth, reaching THB 4,215 million (US$122.9 million), and accounted for 6% of the total revenue.

 

Vietnam ranked as CPF's second-largest market in terms of revenue during this period, contributing 22% of the company's total revenue. The only market ahead of Vietnam was Thailand, CPF's home market, which generated THB 106,901 million (US$3.12 billion), a 5% decline year-on-year, accounting for 36.9% of the total revenue.

 

CPF attributed its strong performance in Vietnam to the improvement in meat prices, particularly swine prices.

 

-      The Investor

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