Shortage of seafood supply leads to 20% price spike in Kasimedu market
Seafood prices rose another 20% at the Kasimedu fishing port on Sunday due to a shortage of supplies as fewer boats ventured into the sea. Traders said that at noon the demand for seafood had increased and that if the situation continued, prices would be doubled.
“Over the past two weeks, the market has received at least 20-40 tonnes of seafood as more than 500 trawlers have ventured into the sea. However, without proper catches, less than 40% of fishermen have made boat, resulting in a shortage of supplies. So the prices jumped by 20%, this would continue even on weekdays,” said Vishnu MP, a wholesaler from Kasimedu fishing port.
With only less than 10 tons of seafood, seafood rates are high, where seer fish (vanjiram) sells for Rs 700 – Rs 750 per kg, black pomfret Rs 650 per kg, red snapper ( Sankara) Rs 350 per kg, crab Rs 400 per kg and anchovies (nethili) Rs 450 per kg.
As wholesale seafood prices rose on Sunday, retail sellers sold them at the same price. They feared the sale would be boring due to the demand for seafood.
“With less amount of seafood, we witnessed a demand at noon. And many customers came back without buying anything. Although it is the season to catch more seafood, this time the fishermen don’t “catch less fish. If the situation continues like this, prices will be doubled from next week,” said Lakshmanan M, a market retailer.