Avanti Feeds, Apex Frozen Foods shares surge up to 20% after EU lists 102 new fishery establishments

Shares of seafood exporters such as Avanti Feeds, Apex Frozen Foods, Coastal Corporation and Waterbase came under strong buying interest on Wednesday, September 10, after the European Union (EU) listed 102 new Indian fishery establishments for export from India to EU member countries.

Following this development shares of Coastal Corporation were locked in 20% upper circuit at ₹37.57, Apex Frozen Foods surged as much as 20% to hit an intraday high of ₹263, Avanti Feeds climbed as much as 15% to hit an intraday high of ₹756 and Waterbase advanced 12.5% to hit an intraday high of ₹55.

The development comes as a positive news for Indian fisheries companies as they were badly hit after the United States imposed 50% tariffs on Indian merchandise last month. Most of the fisheries companies in India earn major chunk of revenue by exporting their products.

"This significant expansion reflects the growing confidence in India's food safety and quality assurance systems and marks a major step forward in enhancing market access for Indian seafood products specially aquaculture shrimps and Cephalopods (Squid, Cuttle fish and Octopus)," Ministry of Commerce and Industry said in a press release.

EU has added 102 new establishments to the EU-approved list for fishery exports and this reflects India's commitment to food safety, traceability, and compliance with EU regulations. This also strengthens India's position as a trusted supplier of high-quality seafood, Commerce Ministry said.

Development is expected to significantly enhance India's seafood exports to the European Union, which is one of the most lucrative and quality-sensitive markets globally. With the inclusion of these new establishments, exporters across various coastal states and UTs will now have greater opportunities to tap into EU demand, diversify their product offerings, and strengthen trade relationships, Commerce Ministry added.

As of 11:20 am, all the shares were trading over 10% higher, outperforming the NIFTY50 index which was up 0.45%.