October 5, 2010

Thai's CPF assures to meet US$0.40-billion sales target

Charoen Pokphand Foods has expressed confidence that it will meet its sales target of THB12 billion (US$0.40 billion) this year, as some of its competitors are having outbreak problems.

Boasting about not being affected by the appreciating baht, CPF President Adirek Sripratak has reported that the country's shrimp export for 2010 has continued to grow from 2009.

It is expected that the total of 52,000 tonnes of shrimps will be exported this year, compared to last year's figure of 34,000 tonnes, a 53% increase worth THB12 billion (US$0.40 billion).

Compared to last year's THB7.8 billion (US$0.26 billion), this is a 54% increase in export value.

Adirek credits these outstanding numbers to the growing global demand for farmers, which has benefited Thai workers.

Adirek also indicated that major shrimp exporting countries such as Indonesia, Vietnam and Mexico are experiencing some epidemic, including Brazil, another major shrimp producer, which has yet to recover from an epidemic.

Despite this, the global demand for shrimp has been growing. As a result, shrimp importers have turned to Thailand for supplies.

Adirek believes that the growth will continue on to next year. He said that the company has not been affected by the appreciating baht as other exporters have been, since 70% of ingredients were imported. Also, the disease-free shrimp strain was researched and produced by the company itself.

Currently, Europe accounts for about 35% of the market, 30% for Japan and the US between 15% and 20%. The company is hoping that from all of its operations, it will generate a revenue of THB180 billion (US$5.95 billion).