Avanti Feeds, Apex Frozen Foods shares crash up to 15% after Trump announces 27% reciprocal tariff on India

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26 Aug, 2025 12:21

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The shares of shrimp feed companies like Avanti Feeds, Apex Frozen Foods and Coastal Corp tumbled on April 3 after US President Donald Trump announced reciprocal tariffs on several nations including India. Notably, these firms have strong export exposure to US, with significant portion of their revenue being driven by the American market.

Last night, Trump held up a chart showing how much tariffs US will impose on various countries. On India, the chart showed that the country charged 52 percent tariffs on the US, "including currency manipulation and trade barriers", and America would now charge India "discounted reciprocal tariffs" of 27 percent.

Avanti Feeds shares crashed 15 percent to close at Rs 754.95 apiece. As of the December quarter, the company derived 69 percent of their overall revenue from the North American market, as per their investor presentation for Q3FY25. The company derived 17 percent revenue from Europe and 14 percent from Asia. Notably, its revenue from North America had fallen from 82 percent in Q3 FY24.

Apex Frozen Foods shares, meanwhile, plunged nearly 4 percent to close at Rs 207.49 apiece. This marks the lowest level for the stock in nearly a month. USA was its top export market in FY24, accounting for 64 percent of its exports. “Being an export-oriented sector, any slowdown in consumption in key markets like USA, EU and South-East Asia will have an adverse impact on India’ shrimp exports,” the company had said in its investor presentation for the quarter ended December 31, 2024.

Coastal Corp shares also recorded a strong downturn, falling over 8 percent to trade at Rs 36.30 apiece. The stock has now snapped its 3-day gaining streak.

Notably, US is the single biggest market taking in $2.4 billion out of $5.6 billion worth of shrimp that left Indian shores. Indian shrimp constitute 40 per cent of the US market. A big chunk of Indian shrimp that makes its way to the US gets processed in some Latin American nations.

There are around 1 lakh shrimp farms in India, most of which are located in Andhra Pradesh. India achieved record exports of seafood in terms of volume and value by shipping 17,35,286 tonnes of seafood worth Rs 63,969.14 crore ($8.09 billion) during 2022-23. Frozen shrimp remained the major export item in terms of quantity and value, and the US and China turned out to be major importers of Indian seafood.

With inputs from PTI