Indian shrimp companies such as Waterbase, Avanti Feeds, and Apex Frozen Foods, among others, have come under focus on the back of rising demand for shrimps in the global markets, especially in the United States of America and China, as per Zee Business research analyst Ashish Chaturvedi’s report.
According to Chaturvedi, the consumption of shrimp has surged in USA and China. In fact, both countries are competing with each other with respect to the import of shrimp. The rise in demand hasn’t seen a change in the prices as it has been steady for the last two months at $9 per kilogram, he added.
The research analyst further said that this demand will stay for longer, similarly, the prices of shrimps will also sustain at the same level, as Ecuador has also increased its export capacity. India had a 35% market share in shrimps’ exports.
Chaturvedi, however, said this demand from US and China has created an opportunity for Indian shrimp companies. Quoting several reports, he added that India alone cannot fulfill the demand in the international markets.
श्रिम्प कंपनियों के शेयरों में तेजी
क्यों फोकस में श्रिम्प कंपनियां?
कैसी है US, चीन में श्रिम्प की डिमांड
जानिए पूरी डिटेल्स आशीष चतुर्वेदी से @AshishZBiz | #Seafoods | #shrimp pic.twitter.com/9mL9bWamJq
— Zee Business (@ZeeBusiness) September 12, 2022
Zee Business Managing Editor Anil Singhvi said the rise in shrimps demand could also be attributed to food inflation as prices of wheat, rice, and other commodities have increased across the globe.
Waterbase’s 70 per cent revenue comes from shrimps, which has been on the Zee Business recommendations list along with Avanti Feeds, the managing editor added.
The market analyst Siddharth Sedani picks Avanti Feeds as the best bet among other shrimp companies on the back of a strong balance sheet and growth numbers, and it is also big with respect to size than other companies in the segment.
Shares of Waterbase, Avanti Feeds, and Apex Frozen Foods have closed higher between 5-6 per cent at Rs 92, Rs 507.6, and Rs 345.35 per share on the BSE on Monday.