Thai Union Frozen Products is cutting back investments this year by 17 percent to THB 5 billion (€123.7 million/$161.5 million) as a shortage of shrimp takes its toll on the business and damages profits, reported Reuters.
The tuna and shrimp producer said the outbreak of early mortality syndrome (EMS) has pushed up its costs and led it to report a 54 percent drop in first-quarter net profits.
Thai Union makes the Chicken of the Sea brand tuna and counts Walmart and Costco to its biggest buyers.
The
