Mumbai, April 3 -- Shares of Avanti Feeds plunged 16.82% to Rs 753.20, while Apex Frozen Foods fell 5.83% to Rs 207.15 on the BSE. Avanti Feeds hit an intraday low of Rs 720, and Apex Frozen Foods reached an intraday low of Rs 199.25 during the session.

The two companies rely heavily on exports to North America for their revenue. In FY24, Avanti Feeds derived 83% of its revenue from North America, while the figure for Apex Frozen Food was 64%.

The total value of India's shrimp exports is reportedly Rs 50,000 crore, with the US accounting for nearly 44% of the total shrimp exports.

As per media reports, the total tariff on Indian shrimp exports, post the imposition of the new tariffs, could be 45%. These new tariffs are expected to make...