Shares of major Indian shrimp feed and seafood exporters — including Apex Frozen Foods, Avanti Feeds, Coastal Corporation, and Waterbase — dropped sharply on Thursday, July 31, after U.S. President Donald Trump imposed a 25% tariff and penalty on Indian exports.
By 10:37 a.m., Coastal Corporation shares had fallen 2.6% to Rs 35.75. Avanti Feeds was down 3.4% at Rs 667.6, while Apex Frozen Foods traded 1.2% lower at Rs 238.5.
Avanti Feeds earns a major portion of its revenue — 77% in the March quarter — from the North American market, slightly down from 80% a year earlier. Apex Frozen Foods also depends heavily on the U.S., which contributed 53% of its revenue in the same period.
India accounts for about 20% of global shrimp production, expected to remain at 1.2 million metric tonnes this year. Nearly 48% of India’s shrimp exports go to the U.S., making the industry vulnerable to policy shifts in that region.
Until now, Indian shrimp exports to the U.S. faced a total duty of 17.7%, including 5.7% countervailing duty and 1.8% anti-dumping duty. With the new tariff, this is set to rise to 25%.
The U.S. is India’s largest shrimp buyer, importing $2.4 billion worth out of the $5.6 billion total shrimp exports. Indian shrimp holds a 40% market share in the U.S., with much of it processed in Latin American countries before reaching American markets.
India has about 100,000 shrimp farms, mainly in Andhra Pradesh. In 2022–23, India exported a record 17.35 lakh tonnes of seafood worth Rs 63,969 crore ($8.09 billion). Frozen shrimp was the top export item, with the U.S. and China being the key importers.
