Seafood stocks like Apex Frozen Foods and Avanti Feeds are expected to be in focus on Tuesday, following a positive development for India’s shrimp export industry. According to a PTI report, Indian exporters are gearing up to ship around 35,000-40,000 tonnes of shrimp to the United States after US President Donald Trump paused a proposed 26% reciprocal tariff and instead reduced the duty to 10%.
The move comes as a major relief to Indian shrimp exporters, who had been facing significant uncertainty due to the initially announced higher duty. “There is a lot of relief now as we are at par with other exporters to the US. Now the shipments that were held back will be processed,” said K N Raghavan, Secretary General of the Seafood Exporters Association of India.
Following the tariff pause announced on April 9 — just a week after the original April 2 hike announcement — exporters have begun preparations to dispatch nearly 2,000 containers of delayed shipments to the US. This development is expected to ease inventory pressure and improve near-term revenues for leading shrimp processors and exporters.
Both Apex Frozen Foods and Avanti Feeds are likely to see increased investor attention as the news provides a significant sentiment boost for the sector.
Disclaimer: This news article is for information purposes only. The above views are based on news reports and not the opinion of the author or publication. Investors are advised to consult their financial advisors before making any investment decisions.
