C.P. Vietnam faces tough market with revenue slump

C.P. Vietnam faces tough market with revenue slump

The revenue decline was primarily driven by significant drops in the livestock and feed segments.

The C.P. Ben Tre aquafeed plant. — cp.com.vn

C.P. Vietnam, a subsidiary of Thailand’s Charoen Pokphand Foods Public Company Limited (C.P. Foods), has reported a significant drop in revenue for the second quarter of 2025.

The company’s recently published consolidated financial statements reveal a 21 per cent fall in revenue compared with the same period last year, amounting to 26.2 billion baht (about VNĐ21.2 trillion).

This decline highlights the challenges C.P. Foods faces in the Vietnamese market, which remains one of its three key markets alongside Thailand and China.

For the first half of 2025, C.P. Foods’ revenue in Việt Nam reached around VNĐ43.6 trillion (US$1.7 billion), representing a 15 per cent year-on-year decrease.

The downturn was largely driven by significant drops in the livestock and feed segments.

The farming sector, contributing the largest share, generated VNĐ29.5 trillion but recorded a 19 per cent decrease from the previous year.

Meanwhile, the feed segment also declined by 15 per cent to VNĐ10.6 trillion.

The only segment that showed positive growth was food, which, despite recent media scrutiny, managed a modest 1 per cent increase, reaching VNĐ3.4 trillion in revenue.

These financial results follow a public relations crisis in late May and early June, when images purportedly showing sick pigs at one of the company’s processing plants went viral, triggering investigations by the Ministry of Agriculture and Environment.

The controversy led to calls for a boycott of C.P. Vietnam’s products.

In response, the Department of Agriculture and Environment in Sóc Trăng Province (now part of Cần Thơ City since 1 July) imposed fines exceeding VNĐ100 million on three CP Fresh Shop outlets for operating with expired food safety certifications.

However, by July, C.P. Vietnam issued a statement confirming that an investigation by Sóc Trăng police found no violations of food safety regulations and that no criminal charges would be pursued.

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