CPF and Betagro: still export opportunities
Thailand's food exports are expected to remain in good shape despite the global economic crisis, with shipments estimated at 780 billion baht (€16.6 billion) this year driven by frozen processed chicken, frozen shrimp, and processed fruits and vegetables.
Betagro Group executive vice-president Dr Nopporn Vayuchote said it would take about six months for the Thai swine and poultry business to return to normal if no more negative factors affect the Thai economy. "The flu may affect consumers' confidence to an extent," said Nopporn. "But we still believe the effects will be short-lived, as foreign buyers maintain their purchase orders from Thai processors and the flu increases export opportunities for Thai processed foods."
Charoen Pokphand Foods
Charoen Pokphand Foods (CPF), Thailand's largest agro-industrial and food conglomerate, saw its net profit soar 71% in the first quarter of this year, thanks to improving gross margins and lower raw material prices, reporting a net profit of 770.5 million baht (€16.4 million) in the three months to March 31, up from 451.2 million baht (€9.6 million) the year before.
President and CEO Adirek Sripratak attributes the rise in profit to "successful production and financial management and to national and global improvement in the aquaculture business," back to normal after a one-year slowdown.
"The global financial crisis that started last year has had little impact on CPF's export revenues as Thailand has received more orders from Japan as a result of the food safety issue in China last year," he says, adding that CPF is bullish about its performance over the rest of the year, particularly for its ready-to-eat food exports.
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