Three persons were in the canoe at the time of the accident. The other two were rescued.
The body of Nirappel Gopi, which was found floating in the dam waters in the wee hours of Wednesday, was taken out by 9 am.
Gopi, 62, and Sajeevan,38, from 301 Colony went missing at around 4 pm in the dam waters.
A 12-year-old girl drowned as a result of a mid-water collision at Aymanam on Monday.
The residents of Kuttanad have been accusing these passenger boats of over-speeding through the interior channels, posing a serious safety risk to country boats.
The deceased Anaswara is the daughter of Ratheesh and Reshma from Vazhaparambu.
The boat was carrying 30 children, and 20 of them have so far been rescued.
Adani Vizhinjam Port Private Limited was to resume dredging of sand from August 1 'to give navigation channel necessary depth'.
They were on their way to offer condolences to another family.
The survivors were brought to the port city of Tagbilaran in Bohol province and an investigation was underway.