Indian shrimp exporters jump on US tariff pause

Shares of shrimp exporters Apex Frozen Foods APEX.NS, Avanti Feeds AVNT.NS Costal Corporation COAS.NS rise 5.2, 6.7% and 7.3% respectively

U.S. President Donald Trump announced a 90-day pause on reciprocal tariffs on Wednesday

The three stocks had declined 6.9%, 14.8%, 13.9% up to Wednesday since Trump announced tariffs on April 2

U.S. bought Indian seafood worth $2.55 billion in FY24, which mostly comprised of shrimp

An unnamed government official told Reuters Thursday the tariff pause is especially a relief for shrimp exporters, citing an industry that faced a tariff disadvantage compared to competitors like Ecuador