Process Management

News last update:6 Aug 2012

CPF to invest in feed mills abroad

Charoen Pokphand Foods Plc (CPF) plans to invest two billion baht in overseas projects this year and source more raw materials abroad to benefit from the baht's rise against the US dollar.

The budget is part of a four-billion-baht investment the company is planning this year to expand at home and abroad in a wide range of farm businesses, including new feed mills, poultry farms and processing plants. CPF has expanded in Vietnam, Turkey, China, India, Malaysia, Russia, Laos and the Philippines.

CPF president and CEO Adirek Sripratak said that offshore investments were among several measures to reduce risk from baht appreciation, which has hurt Thai exporters.

The baht has gained almost 8% against the US dollar so far this year. The increase has trimmed CPF's revenue by about 4% so far, and may affect the sales projections of Thailand's leading food exporters in the first half of this year.

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