Visakhapatnam: The seafood lovers in Vizag city are having a sigh of relief from skyrocketing prices of fish, prawn and crabs in the peak winter season. The demonetisation drive has made seafood cheaper by about 30 per cent. Due to cash crunch, the demand has decreased and it has also forced those in the trade to sell these at low price.
The most popular variety, Silver Pomfret, locally known as Chanduva fish, and another well-liked fish variety, “Seer" (Konam), are now sold around Rs 500 a kilo, against the previous rate of Rs 700. Similarly, the price of medium-size white prawn has dipped to Rs 250 a kg from Rs 400. The Barramundi fish (pandugappa in Telugu) is available at Rs 200 a kg while it was Rs 350 a month ago.
The demonetisation drive has hit hard almost all the trades and has caused a severe cash crunch. But, on the positive side, the drive has decreased the prices of seafood this winter season. “I have purchased Seer Fish at Rs 500 a kilo, and got quality pandugappa fish at a more affordable price,” said S.S. Sangam, a seafood lover.
“Due to cash crunch, the inflow of tourists has come down and a majority of the restaurants are losing business. The orders for fish and prawn from the hotel industry have decreased and the people are also not craze about buying the fish at high prices due to lack of enough cash with them. Hence the price of seafood has decreased,” says president of Visakha Dolphin boat owners welfare association Ch. Satyanarayana Murthy.
Sources in the fishing industry said the demonetisation drive has affected the business as boat owners have to pay wages of Rs 30,000 to the crew members and workers after a boat lands with shrimp. Earlier, exporting companies used to pay in cash, but now they are giving cheques which take a few days for encashment. Even if the cheque is encashed, it is very difficult to draw big amounts of money for paying wages and buying input material. Nearly 50 per cent of boats have been anchored. In the coming days, a majority of the boats will be anchored, they added.
