First-quarter profits at seafood giant Thai Union Frozen have fallen by more than 50% amid volatile commodity prices.

The owner of UK tuna brand John West and French label Navirre posted a 54% drop in net profit to THB674.4m (US$22.6m).

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It said volatility in tuna prices had hit confidence among its customers in export markets. Shrimp prices also remain high, it said.

Net sales fell 3% to THB24.44bn.

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