The United States’ decision to suspend trade privileges for Thailand under the Generalized System of Preferences (GSP) program will hit only shrimp wonton noodle soup which makes up only 0.2% of the company’s sales revenue.
CPF’s CEO Prasit Boondoungprasert said wonton noodle soup will be subjected to 6% import duty when the suspension takes effect in the next six months. Furthermore, CPF has already invested in ready-to-eat food production in the US.