Shrimp stocks advance on surge in US exports

Shares of Godrej Agrovet jumped 4%, while those of Avanti Feeds rose 3%. Waterbase and Apex Frozen Foods also gained 2% each.

Jan 16, 2019 01:01 IST India Infoline News Service

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Shares of shrimp exporting companies climbed on Wednesday after a report that India’s shrimp exports to the US rose in terms of volume and value in October 2018.

Accordingly, shares of Godrej Agrovet jumped 4%, while those of Avanti Feeds rose 3%. Waterbase and Apex Frozen Foods also gained 2% each.

As per media reports, India exported 2,78,60,983kg of shrimp to the US at $247.9mn in October 2018. Realizations rose 5% to $8.9/kg from $8.49/kg last month.

Further, the total shrimp exports increased 11.5% in terms of volume and 16.8% in terms of value compared to that in the last month.

In addition, shrimp prices in the international market have risen for second consecutive month.

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