Avanti Feeds, Apex Frozen: The shrimp crop insurance product of Agriculture Insurance Company of India is expected to be launched today. 
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Avanti Feeds, Apex Frozen: The shrimp crop insurance product of Agriculture Insurance Company of India is expected to be launched today. Shares of Avanti Feeds climbed 14 per cent in Thursday's trade, taking their six-month gains to 32 per cent. The counter saw heavy volumes, with a total of 4.03 shares changing hands on BSE so far against a two-week average volume of 22,000 shares. It rose 13.5 per cent to hit a high of Rs 487.85. Shares of Apex Frozen also jumped 9 per cent to hit a high of Rs 247.55.
The stocks rose on the day of ICAR-CIBA’s Shrimp Farmers Conclave-2023 at Navsari. The shrimp crop insurance product of Agriculture Insurance Company of India is expected to be launched today. The Ministry of Fisheries, Animal Husbandry & Dairying had earlier in a release suggested that an MoU between CIBA and NFDB; CIBA and FFPO of Gujarat will be executed for implementing of crop insurance for aquaculture, with premium subsidy and technology support.
"Technical session detailing the present shrimp export scenario and immediate prospects, disease prevention and management with special reference to Hepatopancreatic microsporidiosis (HPM) caused by a microsporidian (Enterocytozoon hepatopenaei (EHP), crop insurance for shrimp farming, development of genetically improved Indian White Shrimp (Penaeus indicus) and diversification of brackishwater aquaculture with Mudcrab and Asian Seabass fish is planned," a release suggested on September 12.
"A special session on aquaculture crop insurance and a panel discussion with the participation of inter-departmental officials to discuss about the requirements especially on shrimp seed quality, shrimp price, diversification and electricity tariff etc are scheduled in the conclave," the release added.
Avanti Feeds had earlier in its Q1 Investor call said the outlook for the current year appears to be bleak as far as the improvement in the performance of the shrimp culture industry is concerned. The export price of shrimps are declining due to global shrimp market continue to face over separations, which is likely to cut this into the second half of 2023.
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