An improved, high-capacity die assembly (10) for a food or feed extruder (12) is provided and is particularly useful for the production of high quality aquatic feeds. The die assembly (10) includes a mount (20), which is secured to the discharge end of an extruder barrel (14), with a plurality of tubular die components (22, 24) coupled with the mount (20). Each component (22,24) includes wall structure (38) defining an outwardly diverging tubular chamber (40) with a die plate assembly (50) coupled to the outer end of the wall structure (38). A flow diverter element (54) is located within each chamber (40) and has a large diameter end adjacent the assembly (50) and a smaller diameter end closer to the chamber inlet. The assembly (50) has a plurality of openings (52) outboard of the element (54).