CP Vietnam to expand further in food processing 

CP Vietnam plans to debut 50 new products in Vietnam in 2019 and revamp traceabiliy for all CP food products, according to Suphat Srithanatorn, executive vice-president of food products.

Some 35 of the new products include dim sum, sushi, and other ready-to-eat meals, of which the company plans to produce in excess of 1,500 tonnes/monthly from its soon-to-open plant in Bin Phuoc. The rest will be marinated meat and other value-added products such as cold cuts and ham.

CP Vietnam launches at least 30-40 items annually, and some 80% of them succeed.

The company maintains 32% of the market for fresh chicken meat and 25% for sausage.  It supplies 20,000 tonnes/week of sausages from its plants in the north and south.

CPF plans to grow its broiler meat share to 40% and sausage to 30% in 2019 in parallel with the expansion of Five Star chicken outlets to 800, and CP Freshmart to 18 stores. Each CP Freshmart store requires an investment around US$25,000/store and typically earns over US$900 sales/day/store.

A new facility in Ch Chi, south Vietnam, to produce retort sausages was recently completed, enabling the company to supply 6,000 tonnes/month.

The company currently operates food processing plants in Hanoi, Dong Nai, Ben Tre and Cu Chi.