Shrimp exporters shrivel

Yesterday, Donald Trump slapped a 27% “reciprocal tariff” on Indian imports. This is expected to hit key agricultural exports, particularly basmati and non-basmati rice, shrimp, wheat, and buffalo meat, which together account for 46% of India’s farm trade with the US.

Trump outlined that in addition to the 27% tariff on Indian imports, a 10% tariff on all imports will take effect on 5 April. By 9 April, countries with the largest trade deficits with the US will face even steeper “reciprocal tariffs.”

Reacting to this, shrimp exporting companies, those with the highest exports to USA, are down in the red. This tariff includes a 45% combined rate, covering Anti-Dumping Duty (ADD), countervailing Duty (CVD) and then the new Trump tariffs. This makes Indian shrimps extremely expensive for the US and uneconomical for the exporters, which means these companies, for now, might halt exports to the USA.

Stocks which will be impacted and thus falling the most today are Avanti Feeds, going down 19% to Rs.880, Apex Frozen going down 8% to Rs.199.25.