The increase was driven mainly by higher sales volumes and favorable currency translation from the weaker Vietnamese dong.
Vietnam is Thailand’s conglomerate Charoen Pokphand Foods’ (CPF) largest overseas market, accounting for about 18% of group revenue in the second quarter of 2026 (Q2 2026).
CPF’s Vietnam revenue rose 14.2% qoq and 7.8% yoy to around USD 846.64 million.
The increase was driven mainly by higher sales volumes and favorable currency translation from the weaker Vietnamese dong, which helped offset lower average selling prices.
The stronger Vietnam performance came despite weaker pork prices during the quarter. Average swine prices in Vietnam fell to around USD 2.52/kg in Q2, down 7.6% from Q1 and 2.7% from a year earlier.
For the first six months of 2026, CPF’s Vietnam revenue reached around USD 1.59 billion, down 1.7% yoy.
Financial services firm FSSIA forecasts Vietnam revenue to reach around USD 3.2 billion for 2026, up 6.1% from 2025.
Vietnam’s growth also helped cushion weaker results in CPF’s domestic Thai market, where revenue fell 3.2% yoy to around USD 1.44 billion in Q2, mainly due to a sharp decline in local swine prices.
Meanwhile, CPF plans to spin off and launch initial public offering of CP Vietnam by the end of 2026 or during the first half of 2027. The listing process is awaiting final regulatory approval from Vietnam’s State Securities Commission.
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