The European Union’s removal of its “yellow card” on Thailand -- a recognition of its progress in tackling illegal, unreported, and unregulated (IUU) fishing -- is expected to lead to "spillover" benefits that will lift several companies and segments of the industry.
The move, announced Jan. 8, will benefit major Thai seafood exporters, especially Thai Union, which has heavier seafood sales exposure to Europe than Charoen Pokphand Foods (CPF), according to Prasit Sujiravorakul, an analyst at Bualuang Securities.
“We also expect the two seafood exporters under our coverage to see gains in other markets this year,” he said.
