Ecuador’s President, Daniel Noboa Azin, has declared a state of emergency in response to the nation grappling with an unprecedented level of gang-related violence, prompting urgent measures to address the escalating crisis. At least 10 people were killed in a series of bold attacks in the past several days.

As Ecuador faces challenges on the domestic front, the global shrimp market is experiencing a ripple effect, particularly in India. Speculation is rife that Indian shrimp stocks may witness a significant rally, driven by the anticipation of potential supply disruptions emanating from Ecuador.

In the wake of these developments, Avanti Feeds Ltd. witnessed a remarkable surge of 11% on Friday. This boost propelled the stock to its highest closing point in almost two years. Notably, the stock has recorded a 26% increase since Tuesday, when the global community started taking notice of the crisis.

Apex Frozen Foods Ltd. also experienced positive momentum, with a rise of more than 7%. Similarly, Waterbase Ltd. saw a substantial rally of 12%, reaching its highest level since February 2022.