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November 12, 2013

Thailand

CP Foods Forecasts a Recovery in Early 2014

 

In its third-quarter-2013 report, Charoen Pokphand Foods, the largest producer of farmed shrimp in Thailand, said the effect of early mortality syndrome (EMS) on shrimp farms has continued to be more severe than expected.  As a result, Thai production of farmed shrimp could drop by 50% in 2013.  Still, CP Foods showed a 10% year-on-year increase in net profit to $83.8 million in the third quarter, pushing its nine-month earnings to $168 million.  The third-quarter results improved over the previous quarter as a result of a recovery of broiler and swine prices in the domestic market from last year, when prices plunged below production costs because of oversupply.

 

CP Foods said its research and development team is studying shrimp farming techniques to help bring survival rates back to normal.  It expects to see the shrimp supply increase in the first quarter of 2014.  Farms that had closed down during the early mortality syndrome epidemic are starting up again.

 

Source: The Nation.  Shrimp Disease Holds Down CPF’s 9-Month Results.  November 12, 2013.

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