Asia Plus Securities highlights four standout agriculture and food stocks for the second half, picks ITC and GFPT

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Summary · why it matters

Asia Plus Securities expects the combined normalised profit of four agriculture and food companies — CPF, GFPT, TU, and ITC — to reach 6.45 billion baht in the second quarter of 2026, flat from the previous quarter but down 53 percent from a year earlier. The outlook for the second half of 2026 is seen improving from the first half, driven by the onset of the export season in the third quarter, which is the high season for the sector, along with a likely weaker baht. The livestock segment, represented by CPF and GFPT, is expected to recover on better product prices, while the seafood and pet food segment, represented by TU and ITC, should see cost pressures gradually ease. The research team picks ITC as a top pick, citing second-half profit growth both half-on-half and year-on-year, and GFPT for its strongest second-quarter profit momentum among peers.

Impact on assets 4

Consumer Staples▲ · 4 stocks
GFPT Public Company Limited
GFPT
▲ PositiveDemandrelevance

Picked as top pick for strongest Q2 profit momentum among peers; livestock recovery on better product prices.

i-Tail Corp. PCL
ITC
▲ PositiveSupplyrelevance

Cost pressures gradually easing in seafood and pet food segment, supporting profit growth.

Thai Union Group PCL
TU
▲ PositiveSupplyrelevance

Cost pressures gradually easing in seafood and pet food segment, though not a top pick.

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