Interim Budget announces 5 aquaparks, shrimp-feed stocks gain

Fisheries or shrimp feed stock gained between 2-9 percent on February 1.

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Fisheries or shrimp-feed stock gained up to 9 percent on February 1 after Finance Minister Nirmala Sitharaman announced five integrated aquaparks in the interim budget.

Zeal Aqua surged 9.95 percent to Rs 12.38 and  Waterbase gained 10.16 percent to Rs 91.93. While shares of BKV Industries, Apex Frozen, and Avanti Feeds were up 5 percent, 4.87 percent, and 4.15 percent, respectively. These companies are involved in farming, manufacturing and selling shrimp products.

The finance minister also said that the Matsya Sampada Yojna, a central scheme on fisheries, resulted in doubling of aquaculture output. The scheme would help in reaching the export target of Rs 1 lakh crore, she said.

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The government announced the first integrated aquapark in 2022 for Tarin in Arunachal Pradesh. A sum of Rs 43.59 crore was set aside for the aquapark to facilitate fishing activities and also serve as a platform for fish farmers and stakeholders.

"Aquaculture is in good focus this year as the PM Matsya Sampada Yojana has revised to increase productivity by 2 tonnes per hectare, a goal of further doubling down exports here on. 55 lakh new employment opportunities are said to be generated as 5 new aqua parks are being set up. This was interesting for us as we just saw the share prices of one of our portfolio companies that works in the seafood industry go up by 6 percent in a fraction of a second," said Divam Sharma, Founder and Fund Manager at Green Portfolio PMS.

The Matsya Sampada Yojna aims to bring Blue Revolution through sustainable and responsible development of fisheries sector. It has an estimated investment of Rs 20,050 crores for development of fisheries sector. The scheme is being implemented in all the states and union territories for a period of five years from FY21 to FY25.

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