Accessible version Charoen Pokphand Foods Still waiting on China Core operations in Thailand and Vietnam were broadly consistent, while China remained the key source of underperformance. Gross margin, CPF's principal earnings driver, contracted to 15.0% from 15.6% in 1Q26 with domestic livestock margin falling from 15.9% to 14.3%. This reflected the lower hog prices in Vietnam and higher feed costs in Thailand, where flat selling prices over the period point to cost inflation. China remained the more signif ...

First Read Charoen Pokphand Foods Management reaffirms positive outlook for H226 Expecting swine prices to broadly improve in H226 We attended Charoen Pokphand Foods (CPF)'s Q226 analyst meeting today. Overall, the management reiterated its guidance of improving earnings momentum in H226 driven by recovering meat prices. The company highlighted that China swine prices appear to have passed the bottom at around RMB9/kg in Q2 and are now on an upward trajectory, with spot at about RMB10.9/Kg and forwards indi ...