November 11, 2003

Thailand's Betagro Forecast Outlook For Chicken Exports in 2004 Not As Bright
 

Thailand's Betagro said that the outlook for chicken exports in 2004 was not as bright since chicken feed prices are expected to be higher and a larger supply of chicken in the world market is expected as Brazil and China increase their production.

Though this is negative news for CPF, KGI Securities (Thailand) believes it will have a limited impact on the company as its products capture the high-end markets in Europe and Japan.

However, the situation needs to be closely monitored. KGI maintains BUY at Bt6.35.