The Indian shrimp farming industry has been thrown into a spin following the news that it is facing a near threefold increase in tariffs on shrimp imports into the United States.
The move by the US Department of Commerce is being seen as an anti-dumping measure and the proposal is to raise duties from the current level of 0.84 per cent to 2.34 per cent.
The news hit the share prices of Indian fish farming and shrimp feed companies yesterday, with falls of up to six per cent.