← Thai Vegetable Oil overview

Thai Vegetable Oil vs Srinanaporn Marketing: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Thai Vegetable Oil Public Company Limited (TVO.BK)

Q3 2026
▲3▼1

El Niño and strong baht lift TVO, but Q4 cost rise and 2027 profit dip loom

  • El Niño drought boosts vegetable oil demand and prices Forecasters see a very strong El Niño into early 2027, cutting palm oil supply and lifting vegetable oil prices. Brokers upgraded TVO to Buy with a 36 baht target, naming it a top El Niño beneficiary. This supports demand and pricing for TVO's soybean oil.

    This is the main new force behind TVO's positive outlook and broker upgrades this period.

  • Strong baht cuts imported soybean costs The baht strengthened to about 32.98 per dollar on foreign fund inflows. Because TVO imports raw soybeans, a stronger baht lowers its costs and supports profit margins. Asia Plus lists TVO among companies that benefit from this currency move.

    A stronger baht directly lowers TVO's main input cost, a key profit driver.

  • Q3 profit expected up sharply, brokers keep Buy Tisco expects Q3/2026 normalized profit of 729 million baht, up 69% year on year, on higher soybean meal prices and bottled oil sales. It maintains Buy with a 33.75 baht target. Bualuang also sees a positive Q3 on stable costs and better prices.

    This is the latest earnings expectation and broker view that directly supports the stock price.

  • Q4 costs to rise and 2027 profit seen falling Management says soybean costs will rise in Q4/2026, and the El Niño benefit may only arrive in Q1/2027 because Malaysia's palm oil stocks are still high. Consensus expects 2027 profit to fall 13% year on year, so TVO's main attraction is its roughly 7-8% dividend yield.

    This is the main counterweight: near-term cost pressure and a weaker 2027 profit outlook.

September 2026
▲3▼1

El Niño and strong baht lift TVO, but Q4 cost rise and 2027 profit dip loom

  • El Niño drought boosts vegetable oil demand and prices Forecasters see a very strong El Niño into early 2027, cutting palm oil supply and lifting vegetable oil prices. Brokers upgraded TVO to Buy with a 36 baht target, naming it a top El Niño beneficiary. This supports demand and pricing for TVO's soybean oil.

    This is the main new force behind TVO's positive outlook and broker upgrades this period.

  • Strong baht cuts imported soybean costs The baht strengthened to about 32.98 per dollar on foreign fund inflows. Because TVO imports raw soybeans, a stronger baht lowers its costs and supports profit margins. Asia Plus lists TVO among companies that benefit from this currency move.

    A stronger baht directly lowers TVO's main input cost, a key profit driver.

  • Q3 profit expected up sharply, brokers keep Buy Tisco expects Q3/2026 normalized profit of 729 million baht, up 69% year on year, on higher soybean meal prices and bottled oil sales. It maintains Buy with a 33.75 baht target. Bualuang also sees a positive Q3 on stable costs and better prices.

    This is the latest earnings expectation and broker view that directly supports the stock price.

  • Q4 costs to rise and 2027 profit seen falling Management says soybean costs will rise in Q4/2026, and the El Niño benefit may only arrive in Q1/2027 because Malaysia's palm oil stocks are still high. Consensus expects 2027 profit to fall 13% year on year, so TVO's main attraction is its roughly 7-8% dividend yield.

    This is the main counterweight: near-term cost pressure and a weaker 2027 profit outlook.

Latest
▲3▼1

El Niño and strong baht lift TVO, but Q4 cost rise and 2027 profit dip loom

  • El Niño drought boosts vegetable oil demand and prices Forecasters see a very strong El Niño into early 2027, cutting palm oil supply and lifting vegetable oil prices. Brokers upgraded TVO to Buy with a 36 baht target, naming it a top El Niño beneficiary. This supports demand and pricing for TVO's soybean oil.

    This is the main new force behind TVO's positive outlook and broker upgrades this period.

  • Strong baht cuts imported soybean costs The baht strengthened to about 32.98 per dollar on foreign fund inflows. Because TVO imports raw soybeans, a stronger baht lowers its costs and supports profit margins. Asia Plus lists TVO among companies that benefit from this currency move.

    A stronger baht directly lowers TVO's main input cost, a key profit driver.

  • Q3 profit expected up sharply, brokers keep Buy Tisco expects Q3/2026 normalized profit of 729 million baht, up 69% year on year, on higher soybean meal prices and bottled oil sales. It maintains Buy with a 33.75 baht target. Bualuang also sees a positive Q3 on stable costs and better prices.

    This is the latest earnings expectation and broker view that directly supports the stock price.

  • Q4 costs to rise and 2027 profit seen falling Management says soybean costs will rise in Q4/2026, and the El Niño benefit may only arrive in Q1/2027 because Malaysia's palm oil stocks are still high. Consensus expects 2027 profit to fall 13% year on year, so TVO's main attraction is its roughly 7-8% dividend yield.

    This is the main counterweight: near-term cost pressure and a weaker 2027 profit outlook.

Srinanaporn Marketing Public Company Limited (SNNP.BK)

Q3 2026
▲3▼1

SNNP's profit has bottomed out; recovery, stimulus and new products drive gains

  • Profit trough passed, brokers raise targets Brokers say SNNP's profit bottomed in early 2026 and is now recovering. Q2 profit of 69.8 million baht rose 23% from the prior quarter, helped by Vietnam sales and steady 26% gross margin. Several houses upgraded to buy with targets of 8-9 baht, lifting the shares.

    This is the core reason the stock is moving: earnings have stopped falling and analysts have turned positive.

  • New products and brand tie-ups broaden sales SNNP launched Jele Chewy fruit-tea jelly with Kamu Kamu, a sports jelly with Alpine, and a new Bento ad campaign. These push into younger and health-focused buyers, and the Jele tie-up got a better-than-expected response, prompting restocking and supporting sales into the high season.

    New products and partnerships are a main growth engine behind the expected revenue recovery.

  • Government stimulus and Vietnam growth lift demand Thailand's Thai Help Thai Plus Phase 2 gives 1,000 baht of co-payment spending in October-November, and SNNP earns about 70-79% of revenue at home, so it benefits. Vietnam's economy grew 9.95% in Q3, and SNNP's Vietnam revenue is expected to rise 17% this year.

    These are the demand-side forces expected to drive the second-half recovery.

  • Factory fire adds supply risk A fire hit SNNP's Bento snack building on 9 October. No one was hurt and insurance should cover the damage, but output is disrupted. The company has about one month of inventory and can use its Vietnam plant, so the revenue hit is seen as limited.

    This is the main counterweight to the positive recovery story and a real risk to near-term supply.

August 2026
▲3▼1

SNNP's profit has bottomed out; recovery, stimulus and new products drive gains

  • Profit trough passed, brokers raise targets Brokers say SNNP's profit bottomed in early 2026 and is now recovering. Q2 profit of 69.8 million baht rose 23% from the prior quarter, helped by Vietnam sales and steady 26% gross margin. Several houses upgraded to buy with targets of 8-9 baht, lifting the shares.

    This is the core reason the stock is moving: earnings have stopped falling and analysts have turned positive.

  • New products and brand tie-ups broaden sales SNNP launched Jele Chewy fruit-tea jelly with Kamu Kamu, a sports jelly with Alpine, and a new Bento ad campaign. These push into younger and health-focused buyers, and the Jele tie-up got a better-than-expected response, prompting restocking and supporting sales into the high season.

    New products and partnerships are a main growth engine behind the expected revenue recovery.

  • Government stimulus and Vietnam growth lift demand Thailand's Thai Help Thai Plus Phase 2 gives 1,000 baht of co-payment spending in October-November, and SNNP earns about 70-79% of revenue at home, so it benefits. Vietnam's economy grew 9.95% in Q3, and SNNP's Vietnam revenue is expected to rise 17% this year.

    These are the demand-side forces expected to drive the second-half recovery.

  • Factory fire adds supply risk A fire hit SNNP's Bento snack building on 9 October. No one was hurt and insurance should cover the damage, but output is disrupted. The company has about one month of inventory and can use its Vietnam plant, so the revenue hit is seen as limited.

    This is the main counterweight to the positive recovery story and a real risk to near-term supply.

Latest
▲3▼1

SNNP's profit has bottomed out; recovery, stimulus and new products drive gains

  • Profit trough passed, brokers raise targets Brokers say SNNP's profit bottomed in early 2026 and is now recovering. Q2 profit of 69.8 million baht rose 23% from the prior quarter, helped by Vietnam sales and steady 26% gross margin. Several houses upgraded to buy with targets of 8-9 baht, lifting the shares.

    This is the core reason the stock is moving: earnings have stopped falling and analysts have turned positive.

  • New products and brand tie-ups broaden sales SNNP launched Jele Chewy fruit-tea jelly with Kamu Kamu, a sports jelly with Alpine, and a new Bento ad campaign. These push into younger and health-focused buyers, and the Jele tie-up got a better-than-expected response, prompting restocking and supporting sales into the high season.

    New products and partnerships are a main growth engine behind the expected revenue recovery.

  • Government stimulus and Vietnam growth lift demand Thailand's Thai Help Thai Plus Phase 2 gives 1,000 baht of co-payment spending in October-November, and SNNP earns about 70-79% of revenue at home, so it benefits. Vietnam's economy grew 9.95% in Q3, and SNNP's Vietnam revenue is expected to rise 17% this year.

    These are the demand-side forces expected to drive the second-half recovery.

  • Factory fire adds supply risk A fire hit SNNP's Bento snack building on 9 October. No one was hurt and insurance should cover the damage, but output is disrupted. The company has about one month of inventory and can use its Vietnam plant, so the revenue hit is seen as limited.

    This is the main counterweight to the positive recovery story and a real risk to near-term supply.