- Shares of shrimp industry firms fell after US imposed extra 25% tariffs on India
- India's cumulative tariff on shrimp exports to US now totals 50%, matching Brazil's rate
- Shrimp products represent 32.4% of India's exports to the US and face 50% total tariff
Shares of major players in the shrimp industry were trading lower on Thursday after US President Donald Trump announced additional 25% tariffs on India. The additional tariffs have taken India's cumulative tariff to 50%, at par with Brazil.
Shrimps products with a 32.4% US share in India's exports will see a total tariff payable at 50%.
Shares of Avanti Feed Ltd. led losses in the sector with a 3.49% decline, followed by Zeal Aqua Ltd. and Apex Frozen Ltd. with a decline of 3.47% and 1.34% respectively at 9:24 a.m. Shares of Water Base declined 0.22%, while Kings Infra Ventures Ltd., were trading 0.10% lower.
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