Budget 2025: Fisheries stocks Mukka Proteins, Avanti Feeds, Apex Frozen surge up to 12% positive on budget announcements | Stock Market News

Budget 2025: Shares of fisheries stocks surged despite the overall weakness in the broader market on Saturday, February 1 . This positive momentum came after Finance Minister Nirmala Sitharaman made significant announcements aimed at boosting the fisheries sector in the Union Budget.

Stocks

Mukka Proteins saw a remarkable intra-day surge of over 12 percent, reaching a high of ₹41.08. Zeal Aqua also rallied, climbing 9.6 percent to reach ₹13.70 at its day’s high. Apex Frozen Foods and Waterbase followed suit, both rising by 8.4 percent, with shares closing at ₹271.70 and ₹75.40, respectively. Avanti Feeds also saw a notable jump, advancing by 7.7 percent to ₹762, while Godrej Agrovet added 7.2 percent to ₹782.

“The government plans to strengthen the fisheries sector in Andaman & Nicobar and Lakshadweep, supporting growth and sustainability. Additionally, the Finance Minister reaffirmed the continuation of Kisan Credit Cards (KCC) to provide short-term loans to 7.7 crore farmers, fishermen, and dairy farmers.

Key beneficiaries of these initiatives include Godrej Agrovet, Apex Frozen Foods, and Avanti Feeds,” said Oneeka Medh, Research Analyst, Samco Securities.

Key Budget Announcements for the Fisheries Sector

Finance Minister Nirmala Sitharaman outlined a comprehensive framework for the sustainable harnessing of fisheries in India. This includes a focus on reducing the custom duty on frozen fish paste and fish hydrolysate, which are vital for the fisheries and aquaculture industries.

One of the most significant announcements in the Budget concerned the sustainable development of fisheries from India’s Exclusive Economic Zones (EEZ) and high seas. A special emphasis was placed on the Andaman and Nicobar Islands and Lakshadweep Islands, which will receive focused attention to enhance their fisheries sector.

As part of the Budget’s broader aim to support the sector, Sitharaman shared key details about a modification in the interest subvention scheme. The loan limit for farmers and fisherfolk under this scheme will be increased to ₹5 lakh from ₹3 lakh, providing greater access to financial support for those in the fisheries sector.

Fisheries and Aquaculture Sector’s Importance

India is the second-largest producer of fish globally, with a thriving fisheries and aquaculture industry. Seafood exports are valued at ₹60,000 crore, underscoring the sector’s importance to the Indian economy. To capitalize on the untapped potential in the marine sector, the government is focusing on developing a framework for sustainable fisheries exploitation in the Indian EEZ and high seas. This initiative will focus on the Andaman and Nicobar Islands and Lakshadweep, regions with vast untapped marine resources.

Custom Duty Reductions to Support Fisheries

In a move to further support the industry, the government announced reductions in the Basic Customs Duty (BCD). The duty on frozen fish paste (Surimi), a key raw material for the manufacture of seafood products, will be reduced from 30 percent to 5 percent. This change is expected to make it more cost-effective for manufacturers to produce and export seafood products using fish paste.

Similarly, the BCD on fish hydrolysate, used in the production of fish and shrimp feeds, will be reduced from 15 percent to 5 percent. These adjustments are expected to benefit both the seafood production and aquaculture industries, making it easier for companies to source essential materials at a lower cost.

Support for Farmers and Fisherfolk

Another major announcement for the fisheries sector was the increase in the loan limit under the Modified Interest Subvention Scheme for farmers, fishermen, and dairy farmers using Kisan Credit Cards (KCC). The loan limit, which previously stood at ₹3 lakh, will now be increased to ₹5 lakh, providing additional financial relief and support to these sectors.

The KCC scheme, which facilitates short-term loans for 7.7 crore farmers, fishermen, and dairy farmers, will play a crucial role in ensuring that the sector remains financially robust, allowing for increased investment in sustainable practices and infrastructure development.