ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Sugar- The Show Goes On

under-invoicing (and over-invoicing) to finance unauthorised transactions in foreign exchange.
Coming back to fish exports, the prices offered by the Japanese for Indian shrimps are said to be higher than those ruling in the US. The present situation appears to have arisen as a result of the realignment of currency parities in the course of which the Indian rupee got devalued with respect to the Japanese yen but revalued upwards with respect to the US dollar. Even if Japanese prices are for the present higher than those obtaining in the US, the latter continues to be a major market for Indian shrimps. In fact, the complaints against Union Carbide appear to have a different basis from what it might appear to be at first sight. The fishing industry is at present dominated by small operators with limited capital and equipment at their disposal. They do not have sophisticated trawlers for deep sea fishing nor their own refrigeration facilities. These small operators concentrate on off-shore fishing, as a result of which the total catch is reported to be declining, especially along the Kerala coast. Already worried about their export prospects, the small operators have been trying to get all types of assistance from the government and also to build up a case against the entry of big operators like Union Carbide who, they fear, may take away their most lucrative business.

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