Thailand's Charoen Pokphand Foods (CPF) is curtailing further investment in
Thailand and focusing instead on opportunities in overseas markets.
CPF''s Teerasak Urunanon says the primary reason is that there
has been a drop in domestic sales because of oversupply in
the domestic market and diminishing demand for meat due to ongoing economic
Local sales target of the company is also being lowered from 150 billion
baht (€3.4 billion) to 130-140 baht (€2.9 - 3.2 billion). This is due to the
industry's instability. Urunanon says that CPF plans to add value to its branded
ready-to-eat frozen foods, spending up to 100 million baht (€2.3 million)
annually to turn the company into a global brand within five years.
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