Trump tariffs effect: Avanti Feeds, Apex Frozen Foods, Coastal Corp shares fall up to 19% 

Shares of Avanti Feeds, Apex Frozen Foods and Coastal Corp- manufacturers and exporters of shrimp feed slipped on Thursday after US President Donald Trump imposed reciprocal tariffs on several nations including India. These shrimp producers earn a significant portion of their revenue from the US market.

Avanti Feeds shares tumbled 19 percent to Rs 720 against the previous close of Rs 889.95. 

The company's investor presentation shows that it earned 69 percent of overall revenue from the North American market in the December 2024 quarter. The company received 17 percent revenue from Europe and 14 percent from Asia. 

Shares of another shrimp producer and exporter Apex Frozen Foods fell 6% to Rs 199.25 on BSE. 

The company exported 64% of its products to the US in FY24. “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.

Shares of another seafood major Coastal Corp slipped over 9 percent Rs 36.05 in early deals today. The stock has now snapped its 3-day gaining streak.

Meanwhile, Incred Equities said the tariff imposition will lead to massive cost increase. The new 45% tariff (including ADD, CVD, and Trump’s new tariffs) will make Indian shrimp significantly expensive in the US, likely halting supplies to US.

"Competitors of India, for shrimp exports are Vietnam, Indonesia, and Ecuador. The reciprocal tariff on them are 46%, 32% & 10%, respectively. Mostly Vietnam, Indonesia, and Ecuador will also halt exports. Supermarkets will mostly run out of supplies with the next 24 hours in USA, leading to rates being revised on food products. These rates can’t go on once the supermarkets run out of stock," said Incred Equities.