Fish prices in Kerala set to drop amid export crisis due to rising shipping costs

THIRUVANANTHAPURAM: During the ban on trawling, Malayalees used to buy fish at a high price. But according to the latest reports, the price of fish in the state is likely to fall sharply in the coming months. While not so good news for the coastal and fishermen, there is no doubt that the lower prices will bode well for consumers as an everyday household item.

The new crisis is due to a significant increase in the rent charged by containers and ships for fish exports from India, thereby reducing the price of fish. As the leading state in fish imports from the country, Kerala is affected by the increase in rent. A large share of fish caught from the coasts of Kerala is also exported to foreign countries.

With the increase in ship and container rents, this has started affecting exports from Kerala. With this, the prices in the public market will fall in the coming months. Exports of items including prawns to foreign markets have been hit hard after the rate has been more than doubled in one fell swoop. Exporters allege that the rate hike was done without warning.

Previously, the cost of renting a ship to Los Angeles in the United States was three lakh rupees. But now it has been increased to 8.5 lakhs. There has also been a large increase in ship-container rates to Europe. It was increased from 2.5 lakh rupees to 6.5 lakh rupees. Fishermen's Union officials said that several establishments in Kochi, which used to export shrimp to the United States, have been closed. Many other institutions are in a similar predicament.