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Shrimp Stocks Jump as India Eyes Big Chunk of Global Seafood Pie

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Avanti Feeds Ltd.,Growing Global Market,Apex Frozen Foods Ltd.

(Bloomberg) -- Shrimp farmers have been among the hottest stock trades in India this week after the government announced proposals to help local aquaculture ...

-- Shrimp farmers have been among the hottest stock trades in India this week after the government announced proposals to help local aquaculture firms capture a bigger share of a growing global market.Shares of Avanti Feeds Ltd., Apex Frozen Foods Ltd. and Waterbase Ltd. have jumped about 20% each in the past two days after the federal budget was unveiled.

While India is the world’s second-largest aquaculture producer after China, its share of shrimp exports has struggled to cross 20%, according to CareEdge Ratings. Government measures, including reducing wastage through development of the cold-storage chain and testing laboratories, are expected help Indian shrimp garner a better global market share, according to Arindam Saha, a director at the Indian ratings firm.

Independent charity, Vantage Foundation announces its partnership with Backpack 4 VIC Kids , a Victoria-based charity dedicated to supporting vulnerable children. As part of its mission to build strong communities, Vantage Foundation collaborated with a local Australian company for a successful fundraising campaign, garnering enthusiastic support from their staff.

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