December 21, 2020

CP Foods expects high pork prices in 2021

Charoen Pokphand Food PCL (CP Foods) has anticipated that a pork shortage in China and Southeast Asian countries - due to the African swine fever (ASF) outbreak - will keep pork prices high in 2021.

The company also sees a need to invest in research and development to build a stronger breed of swine that can resist the diseases and better practices, including stringent farm biosecurity, to ensure that its operations across the world will continue to be disease-free.

Prasit Boondoungprasert, CEO of CP Foods, said pork shortage in China and Southeast Asian countries leads to a sharp increase in the number of imported pork from Thailand, subsequently, increasing pork price. He added that this trend is likely to continue for a couple of years until the production in countries impacted by ASF return to normal.

To minimise the risk, CP Foods will develop a better farm biosecurity and disease-resistant pigs to tackle global outbreak of deadly swine diseases like PRRS and ASF.

It also placed importance on boosting cost efficiency, improving raw material sourcing and environment-friendly farming practice, particularly on water resource management, to minimise its environmental footprint.

- CP Foods