CPF reported a net profit of THB 4.875 billion in the first quarter of 2026, up 349% from Q4 2025, as the meat oversupply situation began to ease. Overseas operations accounted for 65% of total sales.

Charoen Pokphand Foods Public Company Limited (CPF) reported Q1 2026 sales revenue of THB 136.697 billion, down approximately 5% year-on-year, mainly due to the impact of foreign exchange translation from overseas operations into Thai baht. Operations across 13 countries generated about 65% of total sales, with Vietnam ranking as the second-largest revenue contributor after Thailand, accounting for 18% of total revenue.

Mr. Prasit Boondoungprasert, Chief Executive Officer of CPF, said the company’s first-quarter performance showed clear signs of recovery from the meat oversupply situation seen at the end of last year. The improvement reflected effective business management and continuous efficiency enhancement measures. However, operations in China remained affected by significant pork oversupply, causing performance to fall short of target.

CPF continues to operate amid external challenges, including rising energy prices driven by conflicts in the Middle East, which have pushed up transportation, packaging, and animal feed raw material costs. At the same time, the sluggish global economy, weaker consumer purchasing power, and more cautious spending behavior have added further pressure, with the potential to trigger deflationary conditions in several markets.

To mitigate volatility and sustain profitability, CPF is strengthening its integrated supply chain management while accelerating the development of ready-to-eat food products to meet rising consumer demand for convenience. The company has expanded this segment in several countries and sees strong growth opportunities in Vietnam.

Compared with the same period last year, CPF’s net profit declined by around 43%, mainly due to pork oversupply in several countries and weaker consumer demand. However, market balance has continued to improve and is expected to become clearer in the second half of 2026.