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Why Are Aqua Culture Stocks Buzzing In Trade? | Business News | ET Now

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Avanti Feeds, Apex Frozen Foods, Waterbase, Coastal Corp rose up to 5% in the day's trade. The buzz is that Norway plans to increase taxes on fish farmers to raise an extra $3 billion a year. Salmon, Trout and Shrimp are the big three aquatic proteins. Norway is the leading producers of Salmon and Trout. Drop in salmon and trout production, reduces the demand for Fishmeal which is a key raw material for shrimp feeds. Lack of Salmon and Trout in the marketplace could spur demand for shrimp. Domestic soymeal prices are down 19% MoM and 50% YoY. Domestic shrimp feed players have managed to pass on a hike of around Rs 2 per kg
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NORWEGIAN NEWS
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