NEW YORK ( TheStreet) -- China Marine Food Group ( CMFO), Yuhe International ( YUII), China New Borun ( BORN), Feihe International ( ADY), Zhongpin ( HOGS), Inventure Foods ( SNAK), Pilgrim's Pride ( PPC), Tyson Foods ( TSN), General Mills ( GIS) and Kraft Foods ( KFT) are food stocks with up to 172% upside, based on analysts' consensus estimates of 12-month price targets.

According to the Food and Agriculture Organization, food prices witnessed unprecedented spikes worldwide in the last year. The FAO Food Price Index rose 37% since March 2010. Analysts do not foresee any reprieve from the present levels.

David Hallam, Director of FAO's Trade and Market Division, cautions, "Low stock levels, the implications for oil prices of events in the Middle East and North Africa and the effects of the destruction in Japan all make for continuing uncertainty and price volatility over the coming months."

Given this scenario, the following 10 food stocks offer attractive returns. With analysts' buy ratings of 25%-100%, these 10 food stocks are expected to have a mean upside value of 63% over the next 12 months, according to analysts polled by Bloomberg.

Although stocks such as Kellogg ( K) and ConAgra Foods ( CAG) have a higher number of buy ratings, we did not include them as they have upsides of less than 5%.

The 10 stocks listed here are ordered from high to highest, based on potential upside.

10. Kraft Foods ( KFT) manufactures and markets packaged food products, including biscuits, beverages, cheese, convenient meals and packaged grocery products.

Kraft Foods reported a 30% increase in net revenue for fourth-quarter 2010 to $13.8 billion, including a 26.2% impact from the Cadbury acquisition. Net revenue in North America rose 12.2%, European revenue surged 29%, while revenue from developing markets jumped 74%. Operating income in the fourth quarter grew 2.2% to $1.240 billion.

During 2010, the company's sales increased to $49.2 billion, up 27% from 2009. Gross profit margin expanded 40 basis points to 36.4% during the same quarter. Net income improved 36% to $4.1 billion in 2010.

The company expects organic net revenue growth of at least 5% and operating EPS growth of 11%-13% in 2011. Analysts foresee 9% upside for the stock in the next one year. The stock is trading at 14.2 times its estimated 2011 earnings.

9. General Mills ( GIS) is a global manufacturer and marketer of consumer foods sold through retail stores. The company has manufacturing facilities in 15 countries and a marketing network in more than 100 countries.

Net sales grew 2% to $3.65 billion during the December quarter. Gross margin expanded during the quarter. Operating profit grew 10% in the third quarter, led by the company's international business segment. Third-quarter net earnings grew $392 million, up 18%, due to an increase in the mark-to-market commodity positions.

Management reaffirms fiscal 2011 guidance of single-digit growth in net sales and earnings per share of $2.46 to $2.48, representing 7%-8% growth from 2010 EPS of $2.30.

Analysts see 12% upside for the stock in the next year. The stock is trading at 14.7 times its estimated 2011 earnings.

8. Tyson Foods ( TSN) produces, distributes and markets chicken, beef, pork, prepared foods and related products.

During the December quarter, net revenue was $7.6 billion, up 15% compared to last year. The volume change was 4.5% and average price increase was 9.8% for the quarter. Operating margins for the first quarter stood at 6.5% compared to 4.7% for the same quarter last year. Net income increased to $298 million in the December quarter compared to $160 million in the year-ago quarter.

The company managed to reduce debt to a multi-year low of $1.4 billion and its return on invested capital was 26% in the December quarter. Gross profit margin improved to 9.8% from 8% and net profit margin increased to 3.9% from 2.4% during the same period last year.

Analysts expect an upside of 15% in the next one year. The stock is trading at 9.4 times its estimated 2011 earnings.

7. Pilgrim's Pride ( PPC) produces chicken and has operations in the U.S., Mexico and Puerto Rico.

During fourth-quarter 2010, the company reported net earnings of $41.8 million compared to $33.6 million in 2009. Net sales for the same quarter rose to $1.8 billion from $1.6 billion during the same period, last year.

On the quarterly performance, Bill Lovette, Pilgrim's CEO, said, "Customer demand improved in the fourth quarter, with Pilgrim's reporting higher volume in its retail and foodservice segments compared to a year ago. Pilgrim's reported double-digit volume increases in some areas of its foodservice business and the company has picked up additional retail business for 2011 from several of its largest customers."

The stock underperformed in the last year, and analysts expect it to appreciate 19% in the next year. With buy ratings of 50%, the stock is trading at 12.5 times its estimated 2011 earnings.

6. Inventure Foods ( SNAK) is a marketer and manufacturer of specialty snack food brands.

Strong performance of Inventure's snack and Rader Division during the fourth quarter improved net revenue 20.3%, to $33.6 million, from the same quarter in 2009.

Gross profit stood at $7.1 million, up 53% compared to last year. Key growth drivers included volume growth at Rader Farms and the impact of Rader Farms' price increase during the quarter. Consolidated net income for the quarter was $600,000.

Net revenue for 2010 was $134 million, 10.7% increase compared to 2009. Revenue from Rader Division stood at $48.5 million, rising 19.9% from last year.

Consolidated net income for the year was $4.5 million compared to $3.8 million in 2009. The company recorded a 92% increase in net revenue and a 309% increase in net income during the last four years.

Analysts expect the stock to appreciate 25% in the next year. The stock is trading at 18.4 times its estimated 2011 earnings.

5. Zhongpin ( HOGS) is a meat and food processing company specializing in pork and pork products, vegetables and fruits in China. Pork and pork products contributed 98% toward total revenue in 2010 and 2009.

For full-year 2010, total revenue increased to $947 million, surging 30% from 2009 on increased sales in its meat and meat products segment, attributable to Zhongpin gaining traction in other geographies, expansion of the retail store network and improved sales to food service distributors in China.

Net income increased to $58.3 million in 2010 from $45.6 million in 2009. Net profit margin dropped to 6.2% in 2010 from 6.3% in 2009 as Zhongpin could not pass on to customers higher hog prices.

Regarding future performance, Warren Wang, Zhongpin's CFO, said in a statement: "For 2011, we expect that Zhongpin's sales revenues should be within a range of $1.18 billion to $1.23 billion, with gross profit margin within the range of 11.7% to 12.4%, and net income margin within the range of 5.7% to 6.3%."

The company recently closed a $70.5 million common stock offering on March 22. It intends to use the net proceeds for the construction of processing and cold chain facilities. The stock trades at 8.3 times its estimated 2011 earnings.

4. Feihe International ( ADY) is a producer and distributor of milk powder, soybean milk powder and related dairy products in the People's Republic of China.

For fourth-quarter 2010, the company exceeded its own guidance. Net revenue increased 42% to $62.3 million compared to $44 million in 2009 fourth quarter. Branded milk powder constitutes nearly 63% of company's sales, while raw milk powder is about 28% of sales.

Gross profit increased to $19 million, from a net loss of $3 million in the fourth quarter of 2009. Gross margin was 30.5% in the fourth quarter.

For 2011, Liu Hua, the company's CFO, said, "Based on cash and actual purchase orders received this quarter to date and management's estimates, we project our total revenue will be approximately $290 million and net income will be approximately $22 million to $24 million in the full year of 2011." The stock is trading at 13.3 times its estimated 2011 earnings.

3. China New Borun ( BORN) is a producer and distributor of corn-based edible alcohol in the People's Republic of China.

For fourth-quarter 2010, revenue increased to $72 million, up 24% compared to the same period during 2009. Gross profit rose 24% to $17.4 million and gross margin remained stable at 24.3%, compared to the same quarter in 2009. Net income rose 13.7% to $10.5 million during the fourth quarter of 2010.

New Borun estimates first-quarter 2011 revenue between $82 million and $85 million, increasing 39.7% to 44.8% over the same quarter of 2010. Cash and bank deposits were $51.5 million by the end of December 2010.

Analysts expect an upside of 67% in the next one year and the stock is trading at 5.2 times its estimated 2011 earnings.

2. Yuhe International ( YUII) is a China-based supplier of day-old chickens raised for meat production.

During the fourth quarter of 2010, net revenue increased to $22 million, up 64% compared to the same period of 2009, driven by a 46% gain in sales volume of day-old broilers and 16% increase in average selling prices.

Gross profit during the December quarter increased 59.4% year-over-year to $7.5 million, with gross margins of 34.5%.

On the operational side, Zhentao Gao, Yuhe's CEO, said, "The first acquisition conducted by the company in December 2009 of 13 breeder farms in Shandong Province started contributing to our production in fiscal year 2010, and currently nine out of the 13 farms are fully operational. The Company also completed two accretive acquisitions in Liaoning and Henan provinces of a total of 15 breeder farms in July and December 2010, to increase its production capacity to 3.15 million sets of parent breeders, or 8% of China's broiler market in capacity, and to further strengthen its position as China's largest supplier of day-old broilers."

The stock is trading at 3.6 times its estimated 2011 earnings.

1. China Marine Food Group ( CMFO) engages in the processing and distribution of processed seafood-based snack foods and sale of fresh and frozen marine catch.

During fourth-quarter 2010, net sales were up 112% year-over-year to $53 million, compared to $25 million during the same quarter in the prior year. Gross profit increased 111% to $12 million during the same period.

Net income rose 43% year-over-year to $6.2 million, while EPS jumped 33% to 24 cents during the same period last year.

Revenue guidance for full-year 2010 was $123 million, beating the earlier estimate of $100 million. Gross profit zoomed 96% to $37.5 million during the same period, while net income increased 45% in 2010. Gross margins improved 300 basis points to 30.5%.

Although the stock has underperformed on possible radiation contamination of its seafood supplies after the Japan earthquake, analysts are positive and expect it to deliver 172% in the next year. The stock is trading at 3.5 times its estimated 2011 earnings.

>>To see these stocks in action, visit the 10 Food Stocks With Upside portfolio on Stockpickr.