Kings Infra will begin exporting shrimp to the United States in October

Kings Infra Ventures Limited shares rose 4.99 per cent after the company said it will begin exporting shrimp  to the US market in October 2023. The company, in collaboration with JH, signed a Memorandum of Understanding (MoU) to export Vannamei shrimp to the United States. & Company, represents Ocean World Ventures, a leading U.S. importer and distributor of vannamei shrimp.   According to the MoU, both parties plan to start with 5-8 containers of IQF PD shrimp per month and increase this number to at least 100 containers per year in the next financial year. To fulfill export orders from US customers, Kings Infra will increase its processing capacity at Thoothukudi in  Tamil Nadu. The company will produce products in  IQF(Individual quick packaging) packaging for retail as part of its initiative to expand its supply chain network in the United States, the largest shrimp export market in the world. Kings Infra will also manufacture  IQF retail products at its own processing plant or other approved factories equipped with IQF equipment. Upon receipt of US FDA approval, the directors of JH & Company  will process payments via TT in accordance with the MOU. The shares were up by 4.99 per cent to Rs 138.80 on 3 pm on the BSE.

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