Is Fish Farming As Lucrative As People Make It ? - Agriculture - Nairaland
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| Is Fish Farming As Lucrative As People Make It ? by mekaboy(m): 10:49am On May 28, 2012 |
I HAVE WATCHED NAIRALAND CLOSELY FOR SOMETIME NOW, ONCE SOMEONE SAYS I HAVE 100 NAIRA TO INVEST, WHAT BUSINESS DO I GO INTO, YOU SEE FISH FARMING EVERYWHERE. MY QUESTION IS, IS THIS BUSINESS AS LUCRATIVE AS PEOPLE MAKE IT SOUND, PLEASE LETS DO SOME ANALYSIS HERE. ASSUMING ONE WANTS TO START WITH 1000 FISHES AND GROW THEM FOR SALE. WHAT IS THE COST OF THE POND? HOW MUCH WILL THE 1000 SMALL FISHES COST? HOW LONG DOES IT TAKE FOR THE FISH TO GROW FOR MARKETABLE SIZE? HOW MUCH WILL IT COST TO FEED 1000 TILL ITS READY FOR SALE? FINALLY HOW MUCH WILL ONE BE SOLD? THEN SUBTRACT THE COST OF STARTING THE BUSINESS FROM THE SALE OF THE GROWN 1000 FISHES. WHAT IS THE PROFIT ? PLEASE PROFESSIONALS THAT HAVE BEEN ADVISING PEOPLE TO INVEST THEIR HARD EARNED MONEY IN FISH FARMING, GIVE DETAILS. 2 Likes |
| Re: Is Fish Farming As Lucrative As People Make It ? by jam04(m): 2:00pm On May 28, 2012 |
I am currently putting up some write-ups regarding the wrong info i have read regarding cat fish breeding in Nigeria and i can boldly say 95% of the info shared are false and misleading. but not to derail your thread i will answer your question as truthfully: 1 Cost of pond depends on area, land and type of pond you intend to have. By type of pond, i mean earthen, concrete or tarpaulin ponds 2 Cat fish have sizes: we have fingerlings, juveniles and post juveniles. I always advise potential farmers to go for juveniles since most of them don’t have facilities to handle fingerlings. Healthy juveniles cost between 25-30 naira 3 This is where gullible investors fall prey. Before you go into cat fish farming, make sure you know your market or better still make sure you know your buyers and what type of size they buy. For instance it will be difficult for you to get a buyer for a 500g fish if your market environments demands for a 1kg fish and vice versa. however, on average, you should be able to get a size above 1kg within 5 months PROVIDED you fed them well and they are raised with the best and healthy practices 4 I could see you really know what you want and this your question will make those that deceive others shiver in here..lol. i have heard where they will tell you, 'each fish will consume 200naira worth of feed for 6 months and you will attain above 1kg'. Oh my God!!! How is this feasible? Definitely it is not and yes i said it is NOT feasible because different factors and condition determine the response of fish to feed at any particular time. Factors like water quality (turbidity,ph,temperature..e.t.c), stress and health. What i generally advise is to set aside considerable amount for feed. for 1000 pcs of fishes and your target is 1kg and above fed for 6 months, i will advice you keep 250,000 for feeding. 5 This is another good question. Cat fish price varies from place to place, in some places 1kg sized fish goes between 500-520 while in some places we have 460-480. but also have this in mind that not all the 1000 pcs will survive and also not all with attain 1kg averagely. However, if they are well fed and raised under the appropriate conditions, you should have above 850kg at the end of the day. So if you do your maths with the price range i give above, you will still make profit. Profit margin however depends on the pond type you choose. Concrete and tarpaulin ponds consume more money than earthen ponds because of the need to change water. I have always advised potential investors to seek for a one-on-one training with professionals before they venture into raising cat fish. Do not rely on what people say that you only need to read their manual and you are all set to go, it is disastrous as it is a cheap and easy ploy to deceive you into buying their training manual. I am not dis-crediting their manual but what i go against is the assumption that the manual is the only thing you need to read before you start your own farm. Also, make sure you have an onsite assessment of a fish farm by yourself and don’t assume things in your head. As you can see form the attached pic,these fishes are 5months and 2 weeks old and their average weight is 1.3kg-1.6kg i have compiled some useful info into an E-book which is a guide for any starter and experienced fish farmer PS:due to popular demand, this has been done:https://www.nairaland.com/1843788/cat-fish-enthusiastic-farmers-lovers#25242898 olayiwola Farms Nigeria ltd (A div of Penthouse industries Ltd) olulay@yahoo.com 07069457328,08090938426 9 Likes 2 Shares
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| Re: Is Fish Farming As Lucrative As People Make It ? by mekaboy(m): 2:37pm On May 28, 2012 |
THANK YOU FOR YOUR RESPONSE BUT SOME DETAILS ARE STILL MISSING I WANTED US TO US THE 1000 PIECES AS AN ESTIMATE TO DO THE CALCULATION, WHICH YOU SKIPPED . FROM WHAT YOU SAID, YOU DID NOT STATE THE PRICE OF ANY POND TYPE. ASSUMING ONE FISH COST N30 THE 1000 = N30,000 THE FEEDING AS U SAID IS = N250,000 THAT IS 280K ALREADY ASSUMING ALL THE FISHES ARE SOLD AT 400 *1000 = 400,000 400K - 280K = 120K I WILL NOT CONSIDER 120K AS PROFIT YET BECAUSE WE DONT HAVE DETAILS OF THE COST OF THE POND WHICH WILL STILL BE SUBTRACTED FROM IT, AND THE COST OF MAINTENANCE FOR THAT 5 MONTHS. FROM WHAT I SEE, ASSUMING U SPENT 100K ON POND- 250K ON FEEDING- 30 FOR THE FISHES - OTHER EXPENSES 50K =430K IF THE FISHES ARE SOLD FOR 450 EACH *1000 = 450K SO U INVESTED 430K PLUS STRESS -- GOT 450K FROM SALES AFTER 6MONTHS --PROFIT IS 20K IN 6MONTHS . 9 Likes 4 Shares |
| Re: Is Fish Farming As Lucrative As People Make It ? by Nobody: 3:20pm On May 28, 2012 |
mekaboy: THANK YOU FOR YOUR RESPONSE BUT SOME DETAILS ARE STILL MISSING I WANTED US TO US THE 1000 PIECES AS AN ESTIMATE TO DO THE CALCULATION, WHICH YOU SKIPPED . I'll be waiting to see who is brave enough to dispute this open fact. People are just hell bent on scamming their fellow country men, even where there are clear opportunities to make legitimate income. It's pathetic to think of at times. Good analysis, bro. I hope this puts an end to the cat fish farming scam posts. 3 Likes 1 Share |
| Re: Is Fish Farming As Lucrative As People Make It ? by jam04(m): 9:27pm On May 28, 2012 |
I am so sorry i am replying to your question late.. i had busy schedule at work today and i've just come out of the shower and feel refreshed as i read your comment to my reply. Firstly, you need to know that pond acquisition and construction expenses are fixed costs and you do not expect to make reasonable profit margin during your first crop season especially with 1000 pcs of fishes or do you intend to abandon the pond and start with a new pond at the next stocking season? your fixed costs include cost of pond construction,pumping machine,basin,drag nets e.t.c Secondly, i said no one can accurately predict the amount of money that will be spent on fish feed, but we can only make predictions which we are sure will accommodate their feeding expenses.the 250k is more than adequate for feeding and we are very sure you will still have some change up to the tune of 10-20k at the end. this my estimate is optimum feeding of 1000 pcs of cat fish for 6 months. Prices of pond construction depends on the type and labour cost which is variable depending on location. only tarpaulin ponds have market prices not concrete or earthen(natural) ponds. At our end here they construct a 60 square metre ponds of about 5ft depth between 70-80k with tall dikes. Please i will like to point out that i DIDNT say cat fish farming is the best way out for people who need quick/fast money or that it is an easy form of farming where you can make money over night, i kicked against it and that was why i decided to comment when i saw your thread. However, cat fish farming is a great money spinner but for money to spin in, you have to get it right(know about it and have on-site assessment of how things are run and not by reading some lazy manuals or listening to sweet tales from dubious folks with sugar coated mouth) and invest wisely. for records, cat fish farming on a scale of 1000 above pcs of fish is not a poor man's business and i wouldn't advice someone who doesn't have enough capital to go into it as fishes must east everyday just like poultry birds. with hard work and focus, even if the profit margin in your first cropping season is so small, you shall get higher returns during your second cropping season since there is no need for any major fixed costs expenses again. olayiwola Farms Nigeria ltd (A div of Penthouse Nigeria Ltd) olulay@yahoo.com,08090938426 18 Likes 1 Share |
| Re: Is Fish Farming As Lucrative As People Make It ? by femu(m): 11:33pm On May 28, 2012 |
Fishery is lucrative.....but u have to be very careful. To succeed you need to get the following right: GOOD BREED CHEAP AND NUTRITIOUS FEED SOURCES There are other vital issues like how to sell, how to feed etc..... The cost of feeding is the most important;u av to be ingenious and know discreet feed sources. Have u ever wondered y d cost of poultry products(egg,oldlayers,cockerel,broiler) and fish hardly increase even when the feed raw materials always increase. The answer is DISCREET cheap and nutritious feed sources and formulation. Another issue is farm integration; I have integrated successfully my poultry, fishery and piggery. Maggots and mortality from the piggery and poultry are used for the fishery..the pigs also benefit from the fishmeal. However this only works for a medium-large scale farmer You achieve a greater margin when you get your feed source right! http://no1pigfan. 08034209301 4 Likes |
| Re: Is Fish Farming As Lucrative As People Make It ? by brabus(m): 5:00pm On May 29, 2012 |
mekaboy: THANK YOU FOR YOUR RESPONSE BUT SOME DETAILS ARE STILL MISSING I WANTED US TO US THE 1000 PIECES AS AN ESTIMATE TO DO THE CALCULATION, WHICH YOU SKIPPED . You've said it all! Fish farming is not a lucrative business. Based on your projection, you only make at most 25% of whatever sum is invested. Well that depends on our people's definition of 'lucrative business'. As far as am concerned, you're only working for the feed seller and the buyers. I can only do backyard fish farming for family consumption. 2 Likes 1 Share |
| Re: Is Fish Farming As Lucrative As People Make It ? by mekaboy(m): 9:20pm On May 29, 2012 |
brabus: |
| Re: Is Fish Farming As Lucrative As People Make It ? by ade101(m): 10:00pm On May 29, 2012 |
Bravo at thread owner.Your analysis is a great eye opener for me.Just keep me wondering why i never did such analysis all this time that i have been searching for info about fish farming.The truth is,i have done the profit projection many times but i am still surprised how i have always arrived at mouth-watering profit when the math is simple.Once again ,thank you.funny thing is that all those manual sellers wont show up now,they are probably hiding only to show up when an innocent person is looking for a 'lucrative biz'. Anyway, my analysis of POULTRY BIZ still look good.Any advise would be gladly received. |
| Re: Is Fish Farming As Lucrative As People Make It ? by zangiff(m): 5:32am On May 30, 2012 |
in addition,other factors like the water discharged channel,location,nearness to market etc also counts |
| Re: Is Fish Farming As Lucrative As People Make It ? by Nobody: 11:46am On May 30, 2012 |
@OP Are you sure you ever studied economics? Do you even know the meaning of fixed asset? Your fish pond is a permanent asset that would serves you for years to comes. Its not like you want to hawk gala or purewater. 16 Likes 2 Shares |
| Re: Is Fish Farming As Lucrative As People Make It ? by jmoore(m): 11:53am On May 30, 2012 |
One important thing is the feeding which takes most of the cost of running this type of farm because the feeds are mostly imported. Is there a feed producing company in Nigeria that produces fish feed and at a lower price than imported ones and still performs well on the growth rate as imported ones? Also any guide on how farmers can produce their own feeds to reduce cost without compromising the growth of the fishes? |
| Re: Is Fish Farming As Lucrative As People Make It ? by Nobody: 12:00pm On May 30, 2012 |
aasog1: @OPHis ignorance is so annoying. Op, if you do not want to run a fishery, then do not. All these atakara projections are really annoying. The business is not profitable but people are stressing their selves out daily to run their farm. There are things that need just plain common sense to solve. 2 Likes |
| Re: Is Fish Farming As Lucrative As People Make It ? by Mcfemad(m): 12:05pm On May 30, 2012 |
Op, Fish Farming is lucrative but not as lucrative as people think and it all depends on how you start. Getting it right from the beginning will go a long way in achieving good profits. I work with one of the leading livestock company in Nigeria and my company has a training institute where we train farmers on simple tips for Profitable Catfish farming. The training sessions involves theoretical and practical on hands demonstration on the fish farm. The next training programme will come up June 26-29th 2012. You can write our e-mail address for full details and inquiries: animalcareogere@yahoo.com info@animalcare-ng.com ooparinde@animalcare-ng.com The Subject of the mail should be : ATTENTION MR. OPARINDE -ANIMAL CARE TRAINING DETAILS. Thank you and Kind Regards! |
| Re: Is Fish Farming As Lucrative As People Make It ? by stormm: 12:30pm On May 30, 2012 |
I am not a fish farmer but got close to them enough to be able to contribute here. Like somebody said, the pond is a fixed asset. But there is no way you will ever get 100% of your initial purchase of the fingerlings to grow and weigh the same. It is very possible to buy a thousand pieces and not realise up to 400kg over a period of 6 months. Infection is also a major problem of fish farming and sometimes mortality rate can be high when not properly looked after. If you are in Lagos, you can save money on feeds by going to Agege(beside the abattoir), they'll teach you to mix and pellet your feeds by yourself jmoore: 1 Like |
| Re: Is Fish Farming As Lucrative As People Make It ? by onatisi(m): 12:34pm On May 30, 2012 |
but there is one aspect we are overlooking here whic is the cost of the pond is not recurrent , after the first 6 somnths u will make more profit.not all business are fast profit making like buying and sellin but this is a longer term project and it is good for ppl who want to settle down not for someone that wants to get rich quick i am sure after the first year u will be making more profit and will expand ur fish too |
| Re: Is Fish Farming As Lucrative As People Make It ? by brabus(m): 12:39pm On May 30, 2012 |
aasog1: @OP @aasog1, double salute sir. I no fit insult my oga but I beg to differ on this. The turn-around-maintenance of ponds pass that of some refineries. Correct maintenance is the key to successful fish farming, ensuring that your fish remain in the best possible condition. No be to just dig pond and start counting your blessings! Most fish farmers don't know they should check their pond water for ammonia, nitrite and PH every week throughout the year (or at any time the fish look or behave differently). All this comes at a cost. Even minus the above, fish farming is still not lucrative as people think. Cash flow is the amount of money made on a business versus the amount of money you must expend on the business. When your net income is positive (income minus your expenditure), then you’re doing fine. But on the other hand, if you’re unable to meet your expenses (maintenance inclusive) with the current income you’re generating from your farm or have to foot some bills with your personal fund, then you’ve got a negative cash flow. This projection assumes all is well . |
| Re: Is Fish Farming As Lucrative As People Make It ? by arramyjay: 12:55pm On May 30, 2012 |
@ original poster boss sir,it is obvious u are looking for quick cash,it is a good thing,if u wanna make all d profit at once when u hv little or no exprience sad. Every business needs careful analysis, for mr A to say he has made millions in castfish of course u shud knw he isn't talking abt one time or 1st time profit.there are some money that u spen initially that u won't spend the second time when u are stocking. The best is to learn watch and learn. 1 Like |
| Re: Is Fish Farming As Lucrative As People Make It ? by jam04(m): 2:25pm On May 30, 2012 |
I've missed some comments in here while I was away. Its good to see the thread on the front page and by this fellow NL's will be able to learn one or 2 things. Op, like I said from my first reply in here that fish business is lucrative and fetch good money when it is well managed and you have good knowledge of feed substitutes among other factors. What kind of profit do you expect from sales at your first cropping season? 50% profit or more? Where do you put your fixed assets costs? And it seems your mind is already made up that fish farming can't be lucrative and there is no explanation that can satisfy an already made-up mind. If you think you can't derive pleasure from fish farming I will advice you not to please dabble into it because it is capital intensive and no one will like to lose money. Thank you Oluseye olayiwola Olayiwola farms Olulay@yahoo.com |
| Re: Is Fish Farming As Lucrative As People Make It ? by manny4life(m): 2:41pm On May 30, 2012 |
@OP, if you're looking for quick cash, the this might not be the business for you. jam04 has explained all you need to know. Like someone said, your ponds are fixed costs, these are costs you'll incur whether you rear the fish or not, have loses or profits, they are fixed and can expense over time. However, other factors come into play like feeding, health checks, pond cleaning, etc, these cost are variable. Like he suggested, PLEASE do proper assessment before committing to such business. |
| Re: Is Fish Farming As Lucrative As People Make It ? by jam04(m): 4:40pm On May 30, 2012 |
femu: Fishery is lucrative.....but u have to be very careful. To succeed you need to get the following right: Wow..very sensible post |
| Re: Is Fish Farming As Lucrative As People Make It ? by mekaboy(m): 5:22pm On May 30, 2012 |
[b]YES THE POND IS FIXED ASSET, THAT 100K WHICH I USED FOR THE POND CAN ASWELL BE SHIFTED TO THE MAINTENANCE OF THE POND. ARE SAYING YOU WONT SPEND UP TO 100K IN 6 MONTHS IN MAINTENANCE OF THE POND? WATER , FILTERS, HEATER, ETC . BESIDES FROM MY ESTIMATE I ASSUMED THAT YOU BOUGHT 1000 PIECES AND WAS ABLE TO GROW THE 1000 PIECES IN 6 MONTHS, WHICH IS ALMOST IMPOSSIBLE, SO WE NOW ASSUME YOU BOUGHT 1000 PIECES AND 100PIECES DIED BEFORE THE 6 MONTHS . NOW YOU WONT EVEN MAKE AS MUCH AS I ESTIMATED FROM THE SALES. ALSO, WHILE YOU ARE WAITING FOR CUSTOMERS TO BUY UP THE 900PIECES THAT CAME THROUGH, IT COULD TAKE EXTRA 1 MONTH, AND YOU WILL STILL BE FEEDING THEM WHILE YOU WAIT . ITS EVEN LESS PROFITABLE THAN I ESTIMATED, ITS A TYPE OF BUSINESS THAT YOU WILL HAVE TO INVEST HEAVILY INTO TO MAKE MONEY OUT OF IT, OR YOU DO IT IN YOU BACHYARD FOR YOUR OWN USE. SO NEXT TIME A YOUNG HUSTLING NIGERIAN SAYS HE HAS 500K AND LOOKING FOR WHAT TO INVEST IN , PLEASE LET THEM KNOW HOW MUCH THEY WILL MAKE IN THE FIRST 6MONTHS OF THEIR BUSINESS ASSUMING THEY INVESTED THAT 500K IN FISH FARMING. TELL THEM THAT THEY MIGHT NOT MAKE UP TO 20K IN THE FIRST 6 MONTHS. [/b] 2 Likes |
| Re: Is Fish Farming As Lucrative As People Make It ? by fm7070: 5:23pm On May 30, 2012 |
many people go into fish farming as a fast way out of poverty. It's wrong. The business has its techniques. What I can advice anyone is that, learn under someone who is successful in the business. Pay him/her. I repeat, pay him or her. People want to learn business ventures for free. Sorry ooooooooooo It's lucrative if you know the secret and logic. and it will run you down if you don't. Shikena. 6 Likes |
| Re: Is Fish Farming As Lucrative As People Make It ? by zogo(m): 5:26pm On May 30, 2012 |
you can try Heliculture (Snail farming). You'll be happy you did. See for yourself: www.snailfarmingng..com |
| Re: Is Fish Farming As Lucrative As People Make It ? by ade2008(m): 7:12pm On May 30, 2012 |
Seeing is believing. To be candid fish farming is the most lucrative of all farming business. I ve been into poultry farming and ive seen the difference. Fish farmers in ijebu ode here, are really making it big. If you go to any feedmill here, you will see fish farmers with exotic cars. If anybody is doubting the profitability of this business, then it is either one is ignorance of this business or not furnish with the right information. |
| Re: Is Fish Farming As Lucrative As People Make It ? by Mashkov: 7:30pm On May 30, 2012 |
@ OP, Fish Farming is lucrative, I can authoritatively tell you that and that is from experience. My advice is that you seek knowledge before going into it and most importantly, you must have PASSION for the business. Be aware that EVERY BUSINESS has got it's own downsides, so when you go into it and you see some setback, you will no be discouraged. I will summarize some key points for you, catfish farming's success depends largely on 4 cardinal parameters listed below, 1. The quality of the fish (Genetics) 2. The quality of the feeds 3. The quality of the water system 4. The structure of the pond system (space/depth) FYI, if you start with Juveniles (I advise you do this), don't consider fingerlings or post-fingerlings. A juvenile will attain a 1kg (table size) weight in 4 months. The difference in the price of a juvenile and others is significant enough when compared to the cost you incur in rearing them for up to 6 month to attain market size. Your major cost will be the cost of feeds. The best method is to start your fishes with foreign feeds for the first month of 6 weeks, after this, place your stock on local feeds. The formula and specification is not a difficult thing, that can always be provided if you want. I will not advice you start producing your feeds cos of the cost of setting up a fish feed mill (mini), when you scale up, producing your feed will make a whole lot of sense. I can go on and on. If truly you have done a soul searching and decided this is what you want to do, I can always provide all the information you need and also expose you to practical experience if you so desire. We can both sit down and work out a detail feasibility/profitability projection based on the resource you have. Regards, 4 Likes 1 Share |
| Re: Is Fish Farming As Lucrative As People Make It ? by jidewash(m): 7:58pm On May 30, 2012 |
10000 capacity pond for rent in ibadan.also pen house for poultry. Call 08028457581 or 08097312081 pin 22e18c59 |
| Re: Is Fish Farming As Lucrative As People Make It ? by brabus(m): 8:37pm On May 30, 2012 |
A large scale fish farming would make sense according to all response above. @ade2008, I do agree and I've seen those fish farm in Ijebu Ode. But that does not suffix to say that fish farming is for everyone. Thank you all. I think i'll be fine with a simple garden pond for now. Maybe in the future when I have like N2m - N3m to play with, I can go into feed production so that I can sell to fish farmers. That one make more sense to me! At least fish must chop! 3 Likes |
| Re: Is Fish Farming As Lucrative As People Make It ? by Nobody: 9:21pm On May 30, 2012 |
that is a really atakara projection, i don't rear catfish for sale but for my personal consumption and i tell you the last one that spent 5 months with me grew to 1.8kg. average that period was 1.2-1.3kg and i tell you i did not spend up to 200 naira for their feeding. i think you are trying to desuade others from doing it. i intend doing it in a large scale someday. i have attended the training and i hope to put it into practice. thanks. |
| Re: Is Fish Farming As Lucrative As People Make It ? by clementcro(m): 9:42pm On May 30, 2012 |
@Mecaboy, your above analysis is totally wrong, cat fish farming is lucrative, the more you invest in it, they more you get your profit, if you invest like 2m in the establishment of the business, you can be making a minimum of 300k every month after the first 4 months of establishment of your farm. If you need more information and how to achieve this, contact me on 08060595019 1 Like |
| Re: Is Fish Farming As Lucrative As People Make It ? by jmoore(m): 9:48pm On May 30, 2012 |
gzib: that is a really atakara projection, i don't rear catfish for sale but for my personal consumption and i tell you the last one that spent 5 months with me grew to 1.8kg. average that period was 1.2-1.3kg and i tell you i did not spend up to 200 naira for their feeding. 200 naira? How did you feed them? 1 Like |
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