CPF Thai processor downplays ASF impact
In a statement, chief executive officer Prasit Boondoungprasert said the disease, which has seen numerous confirmed cases over the past year, has had "no impact on the company's targets, thanks to business diversification and the balanced proportion of meat products".
The statement said that CP has invested in 16 countries while the business in Thailand generates only 28% of total sale value. "Chicken and pork available in the Thai market is of similar proportion, on top of chicken eggs, ducks, sausages and ready-to-eat products. Pork prices have declined recently due to seasonally weak demand and the dumping of pork supplies on concerns about ASF, but the current prices are still above the production cost."
Meanwhile, the business said it has witnessed an increase in chicken exports to China both in terms of sale volume and prices. It has attributed this greater export demand to China experiencing pork shortages as well as more consumers switching to chicken, pork causing chicken prices to increase. "The swine fever outbreak in China and Vietnam and the spread to a neighboring country raises concerns about possible cases in Thailand, but all producers in Thailand have imposed strict bio-security systems."
The statement added that "CPF has continuously exercised security measures and cooperated with the Department of Livestock Development in alerting farmers of security measures for efficient prevention".