Outlook improves for shrimp exporting companies; analyst picks these stocks

By Ashish Chaturvedi

The demand for processed and ready-to-cook food has increased in the United States due to in-home consumption.

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The exporters are now focusing more on small retail packs of processed shrimps compared to larger quantities amid a surge in retail demand although consumption at restaurants hasn't recovered to pre-Covid levels in the states leaving scope for headroom for sales improvement.

Zee Business tweeted from its official Twitter handle regarding the movement of the stocks related to the seafood business. The tweet said, "Action in stocks related to seafood business What's the good news for #Seafood? Which countries have good growth in demand? Will there be strong growth in the business in FY22? Which stocks benefit from good demand?" Know from Zee Business' Ashish Chaturvedi'"

सी-फूड कारोबार से जुड़े शेयरों में एक्शन

क्या है #Seafood के लिए अच्छी खबर?

किन देशों से मांग में अच्छी बढ़त?

FY22 में कारोबार में दिखेगी दमदार ग्रोथ?

अच्छी मांग से किन शेयरों को फायदा?

जानिए आशीष चतुर्वेदी से...#StockToBuy | #StockToWatch | #StockInFocus @AshishZBiz pic.twitter.com/c8zh9iSp8M

— Zee Business (@ZeeBusiness) December 3, 2021

Research analyst Ashish Chaturvedi has advised certain stocks to be kept under the radar. They are as follows:
Godrej Agrovet
Apex Frozen
Avanti feeds
Waterbase
Coastal Corp.

It has to be noted that during FY21 India exported $596 crore worth of marine exports which are forecasted to cross the $700 crore mark in the current financial year which represents a growth of 17 per cent (YoY).

Furthermore, operationally, companies to benefit from lower soymeal prices, Soy futures had surged to a record 62 per cent between June 2021- August 2021. The prices have now corrected 38 per cent from the peak levels. Soy is a major part of shrimp feed and thus companies benefit from lower feed costs and freight expenses.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers consult with their investment advisers before making any financial decision.)