Charoen seeks double-digit growth, relying on food products
JAKARTA. Amidst the all-time high price of raw materials, PT Chaeron Pokphand Indonesia Tbk (CPIN) bravely aims for double-digit performance growth in 2022. The food segment in particular is expected to rise 20% as it has been set to be the spearhead of this revenue proliferation.
Tjiu Thomas Effendy, President Director of CPIN, clarified that in order to attain said target, his company will establish retail outlets and actively establish partnerships with retailers to close the distance between products and consumers, including joining forces with partners in residential complex. He explained the strategy in a public expose last Monday (23/5).
Further, Effendy mentioned that CPIN sets the target for fodder segment to climb 10%. Last year, the segment contributed IDR 14.26 trillion, covering 28% of total sales of IDR 51.69 trillion. Meanwhile, the poultry farm segment, which comprises a day-old-chick (DOC) and live bird sales, is set to increase 10% and 15% respectively. For reference, CPIN’s poultry breeding sales in 2021 clocked up to IDR 29.04 trillion, soaring 37.05% year-on-year (yoy).
According to Effendy, his company aims high as it believes the poultry business prospect in 2022 will be quite hopeful despite the challenge in high raw material price. Additionally, Indonesia’s poultry consumption seems to have a room for growth in comparison to its neighbour countries. (AM/ZH)