Thai fish processor TUF (Thai Union Frozen Products) has moved to downplay speculation that major orders have been cancelled.

Rumours have been circulating that intimated that a number of major Japanese customers had cancelled a large volume of shrimp orders on concerns over product quality. TUF president Thiraphong Chansiri called the rumours “baseless and irresponsible” and accused those who started the rumours of seeking to manipulate prices, reported the Bangkok Post.

The company was unaware of the rumours until brokers began calling up for comment yesterday [Wednesday].

The negative speculation did little to hold back shares, which rose 30 satang before closing at Bt22.40 (US$0.53).