Thai Poultry Sector Poised for Growth Amid Brazil's Avian Flu Crisis
Thailand's poultry industry is primed for growth due to Brazil's avian flu issues, creating market openings. With lower feed costs, Thai companies like CPF and GFPT are well-positioned. The outcome depends on the duration of Brazil's outbreak, as import bans from major importers like China and EU offer opportunities.
The Thai poultry industry stands at the brink of a significant uptick, propelled by a recent avian flu crisis in Brazil, which is one of the world's leading chicken exporters. With feed costs plummeting, Thailand is set to seize the opportunity, industry experts forecast.
Charoen Pokphand Foods CEO, Prasit Boondoungprasert, one of Thailand's top agribusiness figures, has highlighted the favorable market conditions, with profitable pricing and minimized costs. However, the gains for Thailand hinge upon the duration of the Brazilian outbreak and the resulting import bans in key markets.
Notably, significant poultry importers, including China and the European Union, have suspended Brazilian imports, presenting an avenue for Thai exporters to gain a stronger foothold. As Chinese executives focus on diversification to mitigate risks, Thai producers eye capturing a substantial market share.
(With inputs from agencies.)
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