Mr. Chetthaphon Dutsadeenoad, Deputy Chief Executive Officer and Director of Food Moments Public Company Limited (SET: FM), informed “Kaohoon” that the appreciation of Thai baht has definitely impacted the company’s performance, as FM derives approximately 40% of its total revenue from exports, although the company had entered into forward contracts with clients in advance.
Nevertheless, the company estimates that even with the baht’s significant appreciation in 2025, the overall annual results remain satisfactory due to the right strategy: focusing on the cooked food segment, which is a high-margin group.
In the first nine months of 2025, the company achieved total revenue of THB 5.41 billion, and the outlook for 4Q25 remains positive. Furthermore, Spring Kitchen Co., Ltd.—FM’s subsidiary specializing in the production and sale of processed frozen meat products—increased its production capacity this year by about 5-10% using existing machinery, capitalizing on sales opportunities.
“This year, we have achieved our targets, and in some areas even exceeded them. However, we have faced issues from the Trump Effect (severe fluctuations in the global economy, politics, and markets) and volatile foreign exchange rates, which have been drags this year. Although there were negative factors this year, there were also positives. We must admit that 2024 was a golden year for the company,” Mr. Chetthaphon stated.
For 2026, the company aims for continuous growth, primarily from the cooked processed chicken business. The strategy will be conservative, focusing on ongoing market expansion and increasing the share of international revenue as targeted at 65%. The cooked processed chicken (CAV Product) business unit will continue as planned, with the belief that the global market still holds growth opportunities even amid crisis conditions.
According to export statistics, Thai chicken exports have grown every year except during the COVID-19 year, which was the only year of decline. Since then, Thai chicken exports have resumed growth, reflecting a consistent increase in global demand for Thai chicken.
Mr. Chetthaphon also added that, earlier in 2025, a European analysis noted changes in European consumption behavior: for every 100 people, 40 have switched to more value-conscious consumption. This means that if two products are of equal quality, consumers favor the cheaper one over the more expensive.
Additionally, in 2025, the company was able to access the French market for the first time after many years of attempts, securing approximately 5% of total sales. 2025 was also the first year that per capita chicken consumption in France exceeded that of pork. This phenomenon has led the company to estimate that Thai chicken exports may increase, as global consumption habits are shifting.
