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.