Thai invest in shrimp feed mill in India
Thai Union Frozen Products Plc (TUF) announced it was buying shares of Avanti Feeds Limited (AFL), India’s second largest shrimp feed manufacturer, for approximately 40 million baht (€ 850,000).
After the investment, TUF will own a 14.99% stake in AFL, which is listed on
the Bombay Stock Exchange. The investment was helped by the long-term ties
between TUF’s subsidiary Thai Union Feedmill (TFM) and Avanti.
TFM
specialises in producing and distributing feed products for shrimp and fish in
Thailand. It has been supporting Avanti with its technical expertise in feed
production for black-tiger shrimp over last few years.
In the past, the
Indian government has allowed only local farmers to raise black tiger shrimp.
However, it has recently allowed white shrimp farming to help increase overall
production and exports.
TUF expects strong growth in shrimp production
in India as a result of the change in policy.
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