Shares of Avanti Feeds Ltd surged 9.84% to ₹833.95 in early trade on Thursday, riding high on the back of a major relief for the Indian seafood industry. The sharp rally comes after U.S. President Donald Trump announced a 90-day pause on reciprocal tariffs for over 75 countries, including India — sparing them from the previously proposed 26% duties. However, China will continue to face heightened levies, with U.S. tariffs on Chinese goods raised to 125% from 104%.
This development is particularly significant for India’s shrimp exporters, as the U.S. remains the largest destination for Indian seafood. Of the $5.6 billion worth of shrimp exported from India annually, $2.4 billion heads to the United States alone. Indian shrimp accounts for around 40% of the U.S. shrimp import market.
Avanti Feeds, which has a major presence in the shrimp feed and processing segment, is among the key beneficiaries of the pause, given the potential cost savings and improved export competitiveness. The relief comes at a time when India reported record seafood exports in FY23 — shipping over 17.35 lakh tonnes worth ₹63,969 crore ($8.09 billion), with frozen shrimp as the dominant item.
Andhra Pradesh, home to nearly 1 lakh shrimp farms, is the epicenter of India’s aquaculture industry, and the latest move from Washington is expected to buoy sector sentiment in the short term.
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