Share prices of Avanti Feeds and Apex Frozen Foods have declined today after the U.S. Department of Commerce announced an antidumping duty rate on certain frozen warm water shrimp from India, at 1.35%. India is the biggest exporter of shrimp to the US. 

Avanti Feeds and other shrimp companies have already been battling falling export prices of the shrimp, which have been declining  during the last three-four months due to reduced shrimp consumption in the US. Winter was bad for shrimp consumption resulting in piling up of stocks. Competitive shrimp production in countries like Indonesia, Vietnam and Ecuador is also impacting global prices, according to Avanti Feeds management. 

Companies are now diversifying into Europe and other markets, so it remains to be seen how impacted the financials of these firms will be in the coming quarters. Avanti Feeds has projected performance of the company with respect to shrimp feed, saying that sales are expected to grow by about 10-15% in FY19 over the sales of 4,30,000 metric tons in FY18.