Thailand’s CP Foods to Invest up to $763 Million in 2015 – Expand Abroad
SEAFOODNEWS.COM [Global Ag Investing] - March 24, 2015 -
Thailand’s largest meat and animal feed business, Charoen Pokphand Foods Plc plans to invest between $611 and $763 million in 2015 on foreign expansion and acquisitions. Two thirds of the company’s revenue currently comes from foreign markets, and the group aims to increase these revenues by 15% with focus on the high-growth markets of Russia, South Korea, Japan, and the Philippines.
The group, the world’s biggest shrimp farmer, expects its shrimp business to recover in the second quarter of 2015 after dealing with the effects of Early Mortality Syndrome (EMS) for the past two years, and an increase in EU tariffs on frozen Thai shrimp.
After long periods of political unrest in Thailand last year, household debt is high, leading consumers to be more cautious. As a result, CP Foods is one of a group of Thai conglomerates looking to foreign markets for growth and expansion as demand softens domestically.
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