Thailand’s leading food producer and exporter, Charoen Pokphand Foods Plc (CPF), to promote CP-branded products abroad, is aiming to raise its sales from the segment to more than 10 billion baht over the next five years.
“We are going to tap into foreign markets on all continents. Our products packed under the CP brand, particularly ready-to-eat products, will be available everywhere, from Asia, America, Australia, Africa and Europe, with sales this year estimated at at least 3.4 billion baht,” says Pisit Ohmpornnuwat, executive vice-president handling marketing in international markets.
The US is expected to provide most sales of CP-branded products this year, contributing more than 900 mln baht. The EU is forecast to provide sales of 700-800 mln baht and Hong Kong 370 mln.
“One of the key strategies is that we are going to develop the Hong Kong market as the model CPF will use to penetrate future markets,” he said.
“In Hong Kong, CP-branded products will be available on the shelves of distribution outlets of leading store chains, modern trade, catering services and food service providers. Our strength is particularly in food safety and traceability and, more importantly, fine taste and freshness.”
CPF is likely to invest in the outsourcing production of CP-branded products in the US to save production and transport costs once the market has expanded, he said.