Brokers Keep Positive View on Agri-Food Stocks as Rubber Hits 13-Year High, Favor TFG and GFPT

Money & Banking··THUS·Read original
3▲5 ▼0Impact / 5
Summary · why it matters

Brokers remain positive on agricultural and food stocks, with natural rubber prices up 2.8% from the previous week to a 13-year high on tight supply after heavy rain and flooding in growing areas. Sugar prices rose 1.4% on concerns over a super El Nino phenomenon, with the US Department of Agriculture expecting Thai sugar output in the 2026/27 production year to fall by about 15-17%. Domestic broiler prices held steady at 45.50 baht per kilogram, above the cost of about 37.50 baht per kilogram, and marked their highest level in more than three years since June 2023. Thai pork prices fell 5.7% from the previous week to 66.50 baht per kilogram on heavy rain and slowing purchasing power ahead of the vegetarian festival. Krungsri Securities maintains a positive view on the agricultural and food sector, picking TFG as its top long-term stock with a target price of 14.20 baht, an expected dividend yield of about 8% and quarterly dividend payments, while also highlighting TVO, STA and NER as stocks that benefit from the super El Nino theme. Pi Securities gives the meat sector a market-weight rating and picks GFPT as its top stock, with Thai chicken exports in September worth a total of about 401 million US dollars, up 6% from a year earlier.

Impact on assets 7

Consumer Staples▲ · 2 stocks
GFPT Public Company Limited
GFPT
▲ PositiveDemandrelevance

Pi Securities picks GFPT as top meat stock, with Thai chicken exports in September up 6% year-on-year to about $401 million.

Energy Transition & Power Demand▲ · 1 stocks
Thaifoods Group Public Company Limited
TFG
▲ PositiveCapitalrelevance

Krungsri Securities maintains a positive view and picks TFG as its top long-term stock with a 14.20 baht target price and about 8% dividend yield.

Materials▲ · 1 stocks
North East Rubbers Public Company Limited
NER
▲ PositiveSupplyrelevance

Natural rubber prices hit a 13-year high on tight supply after heavy rain and flooding, and NER is highlighted as a beneficiary of the super El Nino theme.

Synthetic Biology (non-pharma)▲ · 1 stocks
Others▲ · 2 stocks
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