Shares of Indian seafood exporters declined sharply on Thursday following the announcement of new tariffs by US President Donald Trump. Stocks such as Avanti Feeds, Apex Frozen Foods, Zeal Aqua, and Waterbase fell over 6% after the US imposed a 25% tariff on Indian exports.
Avanti Feeds share price slipped as much as 6.62%, while Apex Frozen Foods declined 6.48%. Zeal Aqua shares fell 4.05%, and Waterbase was down 4.45% on the BSE.
President Trump stated that the 25% tariff on Indian goods will come into effect from August 1. He also announced an additional “penalty” in response to India’s continued defense and energy ties with Russia.
Several Indian sectors with significant exposure to the US market are expected to be impacted, including food exports, textiles, auto components, gems and jewellery, and leather goods.
Seafood and shrimp exporters, in particular, are likely to be affected as the US is a key market for these companies. Reports indicate that Indian shrimp exports currently attract an effective customs duty of 17.7%, which will now increase to 25% under the new tariff regime.
According to a recent report by InCred Equities, India’s market share in US shrimp imports is estimated to rise to 50% by end-CY25, driven by strong supply chain, pricing power, and capacity recovery.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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