In 2020, Thai agricultural and animal husbandry company CPF (CPF) achieved revenue of 590 billion Thai plants, an increase of 11%over the previous year, and net profit reached 26 billion baht (86.4 million US dollars), an increase of 41%. International sales accounted for 69%of revenue, an increase of 15%, and domestic sales in Thailand increased by 3%.
The company’s financial report stated that the global pork supply chain is in difficulties due to African swine fever (ASF), and pork prices have risen, especially in China, Vietnam, Thailand and Cambodia. The company has adopted strict biosafety measures to effectively prevent the African swine fever disease, resulting in a substantial increase in profitability.
In addition, CP’s shrimp sales performance in the Thai market has significantly improved, improving marketing strategies and optimizing operating efficiency.
CP predicts that after the COVID-19 crisis subsides in 2021, the purchasing power of residents will begin to increase, and the company will continue to invest in the pig industry and pig feed production projects in China.