is fish farming profitable

The second and third juveniles should pay off your initial startup costs. FeedsFish food is classified in mainly two types; the natural and artificial. Suitable land 2. To ensure one is getting the right number of fish, you need a digital weighing scale and bucket with water. The answer to that question is simple, fish farming is very profitable but it takes a lot of time. This is the reason farmers scour overseas markets as far as Brazil, Vietnam and China. You should realize that the price of Cat Fish vary from one locality to another, but range from N500 to N1,000 per kilogram. If properly stocked, fish should be mature between seven and nine months weighing between 300 and 500 grammes if grown in ponds and 450 and 500 grammes in cages. Fish Farming is Profitable Fish farming is very profitable. Raising fish at your home based farm could be a profitable business. Good seed is obtained from an approved source. In the aquaculture business, both small-scale fish farming and large-scale fish farming are profitable. Experts explained how aquaculture operators can benefit from their business. Attend seminars; appoint experts to provide advice, as you need it. In the aquaculture business, both the small-scale and large-scale fish farming are profitable. Although information on fish farming in Minnesota is limited, your county extension agent can direct you to sources of the best information to answer the more technical questions. It is a type of fish Nigerians love. Fish products are always popular with customers. All Indian & Chinese apart from some other fish are herbivorous - means less money in input. The move by Police comes as Uganda’s electoral season peaks, with just less than 15 days, for voters to go to the polls starting January 14, 2021, President Museveni assured Ugandans that the January 14 elections will be peaceful, Only certified journalists will cover elections, says Police boss, Polls: Museveni deploys spies to stop violence, Daily Monitor journalist on Bobi Wine campaign trail arrested in Kalangala, Police airlifts Bobi Wine from Kalangala to Kampala, Covid: Hospitals stuck with uninstalled ICU equipment, Bobi vows to campaign in blocked districts. Feeding can take at least Shs2m up to the time of harvesting (if properly administered), which is eight to 10 months.“Such an investment requires care in sourcing the seed to reduce costs,” says Izaara. For tilapia, wait till 9.00am and feed three times a day. This is not the case. When starting a fish farming business, you just have to get your costing cum economic analysis right if your intention of building the business is to generate profit, grow the business and perhaps expand the business and start exporting processed and packaged fish within your country and other countries of … Tilapia farming is a very profitable industry, and many people all over the world make money by starting tilapia farming. The raising and selling of fish on a commercial basis has proven to be economically successful throughout the United States. 1. Fish farming is no doubt profitable. Let us agree that you may use the first juveniles you invest in to learn the fish farming business and are not expecting so much out of it. Some of the major reasons why tilapia fish farming is profitable to include: its high protein content, its growth rate, and its large size compared to other fishes. How profitable is fish farming business you soliloquize as your fishes mature. The plastic ponds are cheap and easy to maintain and the sale of the fish cultivated is quick and without stress. Every investment has a gestation period. Thirdly, the startup cost is small when you compare it to the cost of setting up a cattle or poultry farm. People assume that the larger their pond the bigger the fishes will be. To get the exact mix, get an aquaculture consultant. Therefore write a business plan to guide your investment in fish farming and protect your capital. Some of the main reasons tilapia is profitable include its high protein content, rapid growth and large size compared to other fish. Farming systemThere are two farming methods - conventional and unconventional. The 55% forecasted to be profitable within the next 12 months and 75% aimed to be profitable in the next 36 months. Normally, the small-scale farms sell the fresh fishes for retailing while large-scale farms sell the fishes to the slaughterhouses for further preparation and export. Increasing recognition that fish is a healthy food, low in calories and cholesterol levels, but rich in protein has increased consumer demand in both restaurants and supermarkets. Conduct a market survey to get all the information about the business such as how to finance it. Although value addition is important in extending the lifespan of fresh fish up to 24 months, Izaara explains that it is a costly venture. well or borehole). These costs add up on land for establishing ponds, excavating the ponds as well as licences. Fish farming, like most farm operations, requires hard work and exists in a supply and demand market, he adds. Money 4. He says small-scale fish farmers need to sell fresh fish because stricter trade and travel restrictions, especially amidst the Covid – 19 pandemic, have made importing and exporting fresh fish more complicated and expensive. First, Nigerians consume a lot of fish because it is a cheaper source of protein than cow meat or other sources of meat. Fish is a great source of food and protein. Seed qualityFingerlings or frye determine the quality of the fish you are going to harvest. You build earth pond in swampy environments where stream or river water flows naturally into the pond and flows out too. Here are some steps that can help you expand your fish farm, make your business even more commercial and make the fishes you produce better! You should be aware that even if you started with 1,000 juveniles there is no guarantee that they will all remain alive till maturity. For many fish farmers with limited water resources, the most profitable market is sales to friends and neighbors or home consumption by the family. People with disability urge govt. “It is important for one to weigh the reasons for starting a farm and justify it is the right activity for them,” Izaara says. You can sell to whole sale buyers, retailers, restaurants, hotels or big supermarkets, but to make profit, do a survey to get the current market price. Let the access roads be suitable for vehicles to use, and open your farm close to a city with large population. The national fisheries institute has also domesticated the Barbus fish (Kisingya), which can grow up to five kilogrammes making it a candidate for commercial production. While in a cage, 78 fish per cubic metre is the ideal number. However, selection of fish species also depends on the region of your fish farm. Many Farmers choose to do cat fish farming when you compare it to the other type of fish farming because the demand for it is very high. Fortunately, most of the information you need for your business plan is already inside this article. You can budget an estimate of the sum of N300,000 to feed 1,000 juveniles up to 1kilogram weight in six months. Not a single farm was able to make fish production profitable. Apart from that you should get good information of the type of fish farm you wish to start. Put your farm in a place where buyers can easily come. Water is a very vital source of life for fishes. You build it by laying 4 to 5 coaches of blocks using sand, cement and gravel. Fish farming require more capital to setup than a poultry or snail farming. PHOTO/GEORGE KATONGOLE. Izaara says fish water has to be of a particular quality and if it is not up to the task, your fish may end up growing poorly, feeding badly or dying, in some cases. If you don’t have a business plan for your fish farm, you are planning to fail. Place each bucket with each fishpond - call the fish; always feed from the same point and then spread over the pond to observe if the fish is okay. This fish is widely sold in Nigeria. Sterilize water with antibacterial and anti-fungi medicine. Fish farms, according to Izaara, start purposely for fun, food or commercial reasons. To determine how much fish to put into a unit, for tilapia, three fish per square metre in a pond is recommended. Additionally, the business has good export potential. Restaurants, Beer Parlors and Hotels use it for soups and pepper soups. FlightRadar24 estimates that in March, global flights fell by more than 50 per cent compared to the year before.With freight prices rising, coupled with increased shipping time, it means less profit for fish farmers. So, you need to ascertain the quality of the water. You need this financial detail so that the cost of feeding the fishes in your farm and other running costs will not overwhelm you. be adaptive, be flexible (ready to make adjustments). How profitable is fish farming business you might wonder, as you think of the high cost of feeding the juveniles until maturity. 3 Treating the Ponds You can start the business with three hundred thousand naira only if you already have a piece of land and borehole. However, you can normally start making significant profits from the fish farming business after more than two fish production cycles. You now have the information to start fish farming business in Nigeria and profit from it, so what are you waiting for, start yours today. Please note that you cannot use rain water or water you have treated with chemicals for your fish farm. If you feed them properly, they would grow from 1 to 1.5 kg in 4 to 6 months. The size of your pond does not affect the growth negatively. Each system is determined by many factors, including the scale one is interested in. You can site it near a pond or river so that you can easily get water for your fish from these natural sources. Many start small in their backyards and expand later, but you can buy cheap lands in the outskirts of the city. This is done by specialised equipment such as a water metre which can measure oxygen, ammonia, temperature, conductivity and acidity. Get adequate knowledge. An average investment of about 1 Million Naira could fetch you up to 2 or 3 Million Naira of pure profits in 5 to 6 months of business. The pond can be rectangle or any other shape. Tilapia fish farming is a very profitable one. This is a very cheap method of starting a fish farm. To start the breeding process, buy Fingerlings and Juveniles. Quality of the waterFish grows in water and thus the quality of the water matters a lot. While the fourth juveniles you invest in should give you a fair return and profit. You can spend so much on feed and manpower for Months before recouping your first profits little by little. Izaara estimates that 5,000 fingerlings of catfish will cost Shs2m while stock of the same number of tilapia will cost Shs1.5m. Fish has low cholesterol and calories so, it is very healthful and protein-rich tasty food. Disease can wipe out the whole juveniles at once so watch out for any signs of sickness such as loss of appetite, sluggishness, discoloration, etc. How profitable is fish farming business, you wonder as you think of how soon you can recoup your initial capital. Your email address will not be published. The first thing you must consider while starting fish farming is … Fish farming is an ideal business idea for investors with available land, and it doesn’t … According to Ivan Ssabwe, an aquaculturist with Koudijs, a Dutch feeds company, feeds can take up to 70 per cent of the total costs of fish production. This is the main reason of increasing this business around the world. Get a Veterinary doctor. If you have a concrete pond, it is better you dig a borehole so that you have steady supply of fresh water. In addition, closeness to a big town from which you will get real demand for your fish is a key factor for selecting any location. Agriculture Farm. Tilapia Fish Farming Tilapia farming is very profitable. According to him, this influences the kind of fish to be farmed. … How profitable is fish farming business, should be in your thoughts as you consider the type of pond to use for your business. Additionally, the business has good export potential. This is also helpful in determining the feed ratio. “Don’t rush into fish farming without knowledge of the enterprise just because someone you know is farming it or someone tells you, it is very lucrative,” he says. A fish farm at good price is by telling buyers in advance when your fish would.. Are your potential customers the fishes in your farm and other running costs will not overwhelm.... Get wholesale buyers from restaurants, Hotels and large supermarkets to buy from you let us agree that you site... Thousand naira only if you started with 1,000 juveniles there is No guarantee that they will all remain alive maturity. Fertilising while complete feeds are the most accepted fish in the country population growth you started with juveniles. A commercial basis has proven to be more profitable with three hundred thousand naira if. Of owners use, and open your farm and other running costs will not overwhelm.... 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