Thailand’s CP Foods sees revenue slump in Vietnam in Q3

Between January and September, the Vietnamese market contributed 76.6 billion baht ($2.4 billion) to its total revenue, down 17 percent year on year.

Vietnam was the only market worldwide where CPF recorded a decline.

The slump also dragged down CPF’s overall export turnover, which slipped seven percent year on year.

In contrast, its revenue in China marked a 36-percent surge during the nine-month period.

Domestic sales in Thailand rose two percent, while other markets posted a modest one-percent expansion.

The downturn in Vietnam weighed on CP Foods’ consolidated revenue, which dipped 0.4 percent to just over 432 billion baht ($13.36 billion) during the nine-month period.

Despite the slowdown, Vietnam remains its second-largest market, contributing 18 percent of its total revenue, after Thailand.

China generated less than 25 billion baht ($771 million), or roughly eight percent of its total earnings.

CPF recorded a net profit of 24.1 billion baht ($750 million) between January and September, up 57 percent year on year, largely supported by overseas operations, reported Bangkok Post.

International businesses now account for two-thirds of the company’s total revenue.

CEO Prasit Boondoungprasert noted that the firm’s revenue base is becoming increasingly global.

Foreign subsidiaries contributed around 62 percent of its revenue, with exports adding another five percent.

CP Foods now operates or holds joint investments in 16 countries and distributes products through major retail and wholesale channels in more than 50 markets worldwide.

CPF leaders reaffirmed its commitment to expanding in high-growth markets, including the Philippines and Vietnam, where long-term demand for food remains robust.

C.P. Vietnam and controversy over suspected diseased meat

One notable event involving C.P. Vietnam in the second quarter of 2025 was a viral allegation from an individual identified as L.Q.N., who claimed on social media that a C.P. store had mixed diseased pork and chicken into its products.

The investigation police agency under the Department of Public Security of former Soc Trang Province, which is now part of Can Tho City after a merger that took effect on July 1, also received a formal complaint based on these allegations.

The incident took place in May.

In July, police decided not to pursue criminal charges after a probe.

Investigators stated that the company did not commit acts constituting a criminal offense under the relevant article of the Criminal Procedure Code, which governs food safety violations.

Following the decision, C.P. Vietnam reiterated its commitment to transparency, legal compliance, and food safety across its operations.