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CP Foods CEO Prasit Addresses Megatrends Shaping Food Industry

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Technology and innovation will transform the food value chain in response to a number of global customer shift, according to Prasit Boondoungprasert, chief executive officer of Charoen Pokphand Foods (CP Foods), a major producer and market of value-added meat and seafood products. The mega trends are demand for healthy foods, convenience, product and channel innovation, premium and value for money, and sustainability.

Prasit, who spoke at the recent Dynamic Growth in the Global Food Tech Industry Seminar during Thailand Focus 2022, hosted by Thailand Stock Exchange, underscored that Thai food producers should be aware that consumer behaviors across the world have changed drastically due to outbreak of Covid-19. The Bangkok-headquartered company’s chief executive pointed out that CP Foods has constantly placed importance on research and development of nutrition innovations and created added value to food products, continuously focused on healthy foods and good nutrition.

For example, it has launched premium value-added products such as Benja Chicken, the first brown rice fed chicken certified by NSF as raised without added hormones and antibiotics-free.

High in Omega-3, CP’s Cheeva Pork originates from pigs fed with flaxseed, fish oil and seaweed.

Meanwhile, the company recently developed and launched Meat Zero plant-based meat alternatives using its proprietary Planttec innovation. The product line is cholesterol-free and loaded with nutrients such as protein and fiber.

Moreover, CP Foods is seeking opportunities with potential partners to develop cell-based meat, as it believes this technology could disrupt the food production business and consumption trends in the future.

During the seminar, Prasit emphasized that digital technology will play an increasingly important crucial role in boosting the Thai food industry’s competitiveness. CP has already implemented a variety of automation and digitization advances to enhance its production efficiency, and to ensure food safety and quality. The company operates “Smart Farm,” a nearly autonomous ecosystem integrating IoT, automation and AI into its operation.

Prasit added that CP Foods implements smart silo solutions to help streamline feed inventory and order management processes. When combined with its state-of-the-art breeding program and positive animal welfare practices, efficiency is significantly improved.

Looking ahead, the chief executive officer said that CP Foods will continue to use Thailand as a country base for research and development of new products that will be exported the markets around the world. However, he added, the country will need to to build up capacities for raw materials in order to gain competitive advantage in the competitive global market.