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July 6, 2021

Thailand’s CPF outlines deforestation and biodiversity plans

The company wants to collaborate with suppliers to source materials from sustainable sources.

Thailand-based Charoen Pokphand Foods (CPF) has revealed new commitments to tackle deforestation and promote biodiversity in its supply chain.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
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The food business, which recently announced ambitions to grow as a producer of plant-based products, said it wants to work with suppliers to source materials from sustainable sources as part of its mission towards becoming a “low-carbon organisation”.

Its Biodiversity and Zero Deforestation Commitment – with a target of being achieved by 2030 – is intended to ensure all of those in its supply chain produce food without harming the environment and support the United Nations Sustainable Development Goals (SDGs).

The company said it has accomplished its goal in achieving the 100% traceability of maize, back to the plantation fields that have legal land deeds and are not in forest areas.

CPF has also developed a plan to monitor suppliers’ traceability efficiency and to assure that products do not contain materials from encroached forest areas.

Prasit Boondoungprasert, the company’s CEO, said: “CP Foods realises the importance of natural resources and preservation of biodiversity, as they are the foundation of the food supply chain and food security.”

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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