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Fish trade suffers due to demonetisation

The crisis has led to a fall in fish prices, but the non-acceptance of Rs. 500, Rs. 1000 has reduced sales.

Chennai: Less than a year after the floods that struck their livelihood, fishermen in the state face a similar crisis as the demonetisation move by the Union government came as a rude shock to the fishing industry.

“Every day, fishermen go to the sea and get fishes worth Rs. 15 crore of business. By selling them across the coast and providing for exports, we were usually able to do a business of at least Rs. 10 crore daily. After the notes of Rs. 500 and Rs 1000 were declared non-legal tenders, the fishermen are the worst hit,” said Nanjal P Ravi, of the National Union of Fishermen Association. “The business is not making Rs 10 lakhs daily, leave alone Rs 10 crores,” he continued.

He added that though fishermen are able to get essential commodities on credit, the business and means to livelihood has been hurt badly. “There is no money for diesel, nets, no money to pay workers. Not everything can be brought by NEFT and RTGS when half the people don't have bank accounts,” he added.

The crisis has led to a fall in fish prices, but the non-acceptance of Rs. 500, Rs. 1000 has reduced sales. “I sell fish on Sundays and from 8 am to 11 am I usually manage to sell over 15 kg of fish. But today the sales were abysmal. I have managed to sell about 4 - 5kg of fish. People are ready to buy in exchange for old notes of Rs 500 but I am not accepting those. I have taken a hit on my earning,” said K. Raji at Saidapet.

Fishermen hope that steps would be taken to mitigate the situation. “The ones who buy fish from us for exports are doing so on credit. Even if they transfer money, how will all fishermen be paid without them having accounts?” lamented a union member.

( Source : Deccan Chronicle. )
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