Dec. 18--Charoen Pokphand Foods Plc (CPF), the listed flagship of the agribusiness giant CP Group, has begun to feel the pinch from a sharp appreciation of the baht.
The company acknowledged yesterday that it would be highly unlikely to reach its original sales target of 130 billion baht at the end of this year.
According to Adirek Sripratak, the company's CEO, the company expects to finish this year with sales revenue of about 125-127 billion baht, a rise of 10 percent from a year earlier.
Apart from the strong baht, Mr Adirek said lower exports of chicken products also played a part in the revised forecast.
Exports account for about 20 …
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