The share prices of Osotspa and Carabao Group both saw increases in value of more than 5% on Thursday, as the arrival of summer marks the beginning of the beverage industry’s busiest time of year.
Summer and winter seasons typically have a significant impact on annual beverage sales. Energy drinks, sports drinks, soft drinks, and beer sales increase over the summer. Analysts have predicted that these trends will become more noticeable later this month, when Thailand enters its summer season.
The summer season is projected to last from the end of February until the middle of May this year, with Thailand’s Meteorological Department warning that some areas may face extreme heat. Temperatures in some provinces could reach nearly 45° Celsius, according to the department.
As of 10.58 A.M. (Thai time), the share price of Osotspa Pcl. (SET:OST) rose THB2.25/share, or 7.83%, to THB31.00/share, with a trading value of THB1,080 million.
Meanwhile, the share price of Carabao Group Pcl. (SET:CBG) rose THB5.75/share, or 5.79%, to THB105.00/share, with a trading value of THB942 million.
A warning from Thailand’s Meteorological Department was seen as a good catalyst by Capital Nomura Securities, who predicted that beverage stocks would see upside risk in light of the country’s improving economy. CNS advises investors to “BUY” ICHI, SAPPE, SNNP, CBG, TACC, RBF, and MALEE.
