Shares of Apex Frozen Foods Ltd fell 2.5% on Tuesday, August 26, trading at ₹225.57 on the NSE against the previous close of ₹231.40. The decline comes amid escalating concerns over the U.S. imposing steep tariffs on Indian shrimp exports, a sector that forms the backbone of the company’s business.
Shrimp farmers pushed over the edge
The United States is India’s largest shrimp buyer, accounting for nearly half of the country’s $7 billion shrimp exports. With Washington now enforcing an additional 25% reciprocal tariff from August 28, the effective duty on Indian shrimp exports could climb to almost 60%, one of the steepest rates faced by any of its trading partners.
The tariff shock has already led Indian shrimp exporters to slash prices offered to farmers by nearly 20%, wiping out much of their profits. Farmers in Andhra Pradesh, which produces nearly 70% of India’s shrimp, are particularly vulnerable, with many relying on loans to sustain cultivation.
Apex Frozen Foods market snapshot
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Current price: ₹225.57
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Previous close: ₹231.40
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Day range: ₹225.73 – ₹231.19
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52-week range: ₹186.55 – ₹286.00
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Market cap: ₹7.07 billion
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P/E ratio: 76.96
With global buyers increasingly shifting shrimp orders to Ecuador — where tariffs remain lower at around 18.8% — Indian exporters like Apex Frozen Foods face rising competitive pressure, further weighing on stock performance.
