Thai Union Foods (TUF) is likely to see its profit margins squeezed again in the third quarter of the year due to the ongoing record high shrimp prices.
Although the current stability of tuna prices is likely to benefit TUF in terms of sales volume and margin during the quarter, its shrimp operation “remains problematic,” according to analysts at Bualuang Securities, with sky-high prices squeezing margins.
The 60 count per kilogram shrimp price set a new record high of THB 270 ($8.60)
