Avanti Feeds share price fell by nearly 18% on Thursday. This occurred after US President Donald Trump imposed a 27% reciprocal tariff on Indian goods. This development has also led to a broader decline in shrimp stocks across the country, including Apex Frozen Foods, which witnessed a 6% decline.
Avanti Feeds share price reached an intraday low of ₹727. This represents a decline of 18.27%. Several news reports have highlighted the severity of these new tariffs. The combined tariff rate, including anti-dumping and countervailing duties, reaches 45%. This high rate could effectively halt Indian shrimp exports to the US.
India’s total marine exports amount to approximately ₹60,000 crore annually. Shrimp alone accounts for about ₹50,000 crore of this. The US imports about ₹22,000 crore worth of marine products from India each year. Previously, shrimp imports to the US faced anti-dumping duties between 2% and 4%. Countervailing duties added another 5.8%.
The new Trump tariff adds a 10% baseline tariff. Coupled with the 27% reciprocal tariff, this creates a severe burden on Indian exporters. Other shrimp-exporting countries also face high tariffs. Vietnam’s reciprocal tariff is set at 46%. Indonesia’s is 32%, and Ecuador’s is 10%. As per news reports, other countries might also suspend their exports due to the tariffs.
As per news reports, US supermarkets could face supply shortages within 24 hours. This could lead to temporary price increases for seafood. However, once existing stocks are depleted, these higher prices might not be sustainable. At 13.03 PM, Avanti share price was down 16.89% and was trading at ₹740.30.
President Trump’s new tariffs have significantly impacted Indian shrimp stocks. The increased costs could severely disrupt exports to the US, affecting both Indian exporters and potentially causing supply issues and price fluctuations in the US market.
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Published on: Apr 3, 2025, 1:42 PM IST
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