Thai shrimp exporter Seafresh is expected to have a good 2012 due to a weakening Thai baht, and its decision to not lock raw material price, analysts told IntraFish.
Due to a forecasted rise in local shrimp supply, domestic raw shrimp buying price for Seafresh is expected to fall faster than its export selling price, said Capital Nomura analyst Ploenjai Jijarus.
Coupled with a weaker Thai baht, its gross margin is expected to rise in the short term, she said.
In addition, Seafresh is expected to do well this year due to its three
