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Trump tariffs impact on Shrimp stocks: Shrimp stocks took a major blow on Thursday, April 3, 2025, with shares of Avanti Feeds and Apex Frozen Foods plummeting as much as 18 per cent during intraday trading on the BSE.
Avanti Feeds saw a sharp decline of 18.27 per cent, to an intraday low of ₹727, while Apex Frozen Foods dropped 6.34 per cent to an intraday low of ₹202.25 per share.
The drop in these shrimp stocks followed the imposition of a 27 per cent reciprocal tariff on India by US President Donald Trump.
InCred Equities highlighted that the new tariff, which includes the 45 per cent combined rate (covering Anti-Dumping Duty (ADD), Countervailing Duty (CVD), and Trump's new tariffs), would make Indian shrimp majorly more expensive in the US, potentially halting exports to the country.
India’s marine exports globally total approximately Rs 60,000 crore annually, with shrimp accounting for around ₹50,000 crore of that amount. The US imports marine products worth about ₹22,000 crore annually from India.
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At present, shrimp imported into the US is subject to an ADD ranging from 2 per cent to 4 per cent and a CVD of around 5.8 per cent.
The new Trump tariff introduces a baseline tariff of 10 per cent, in addition to the 27 per cent reciprocal tariff. The combined effect of these measures is expected to severely disrupt shrimp exports to the US.
India’s competitors in shrimp exports include Vietnam, Indonesia, and Ecuador, with reciprocal tariffs on these countries set at 46 per cent, 32 per cent, and 10 per cent, respectively. These nations, analysts at InCred Equities believe, are also likely to suspend their exports due to the tariffs.
Moreover, analysts warned that US supermarkets could face severe supply shortages within the next 24 hours, leading to price hikes for seafood products. However, once supermarket stocks run out, these higher prices may no longer be sustainable.
At 11:52 AM, Avanti Feeds share was trading 16.39 per cent lower at ₹743.75, while Apex Frozen Foods share was down 5.33 per cent at ₹204.45. In comparison, BSE Sensex was trading 0.34 per cent lower at 76,359.76 levels.
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