November 20, 2023

CP Foods' Q3 sales take a hit from high production costs, illegal pork imports

CP Foods' sales revenue in the third quarter of 2023 is ฿144,498 million — considered a loss when taking high production costs into consideration, Economic Base reported.

Increased production costs that the company faces entail the prices of raw materials used in animal feed production and energy.

Illegally imported pork entering Thailand have also caused domestic prices to fall.

In Thailand, Vietnam and Cambodia, average prices in these countries decreased 26% from the same period in 2022. This development has an impact on CP Foods' sales performance.

Sixty-two percent of the company's Q3 sales revenue is attributable to operations outside Thailand and 38% to operations in the country. CP Foods suffered a net loss of ฿1,837 million as its gross profit margin was lower than last year.

- eFeedLink