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Food & Beverage

Thailand's CP Foods eyes $30m foray into Mideast

Shrimp and chicken farming proposed as new investments in the region

CP Foods sent its first shipment of chicken products to Saudi Arabia in 18 years last March. (Photo courtesy of CP Foods)

BANGKOK -- Thai agribusiness giant Charoen Pokphand Foods seeks new inroads into the Middle East after restarting chicken exports to Saudi Arabia as the Ukraine war raises the region's awareness of food uncertainty.

CP Foods recently said it is studying the feasibility of farming shrimp and chicken in the region, without mentioning specific countries. It estimates investments for these projects totaling about 1 billion baht ($30 million).

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