Shrimp.Shrimp.Boom.Boom.

The shrimp fever is catching pace. After a lull period of approximately one and a half years, the market seems to be in recovery mode aided by higher demand in the USA and the European Union. Shrimp prices have risen by approximately 13-17% which bodes well for integrated model companies like Apex Frozen Foods. Apex deals in two varieties of shrimps namely L.Vannamei and Penaeus Monodon more popularly known as White leg & Black tiger shrimp.  The company has a processing capacity of 29,240 MTPA, 1800 acres of farmland, and a breeding capacity of 1.2 to 1.4 billion SPF seeds. The company clocked volumes of 13,051 MT in FY19. The newly opened plant in Ragampeeta, Andhra Pradesh commenced operations in November and is currently producing for non-USA and EU markets as key approvals are awaited ( Expected by December end). This provides future revenue visibility. The company derives approximately 80% of revenue from the US market and its end customers include some of the big