Afrigather Nigeria’s N120 billion fish trade is difficult hit by hovering feed costs, threatening particularly the small and medium gamers within the sector.
The Nationwide Bureau of Statistics (NBS) estimates the dimensions of the native fish trade at N120.043 billion.
The as soon as thriving sub-sector is now hit by skyrocketing feed costs which have soared by 100% or extra in a single yr.
Fish costs have risen from N18,000 in 2023 to N36,000 in 2024 for a 15kg bag in Lagos, representing a 100% improve throughout the nation. It’s barely larger within the Niger Delta area recognized majorly for fish farming, farmers say.
A 50kg of fish feed value as excessive as N74,000 on on-line outlets as of Thursday, July 4, as towards beneath N35,000 in the identical interval of 2023.
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Samson Feyisetan, chief govt officer of SAFSON Farm, mentioned he was pressured to close down over 10 of his fish ponds in an area of two years due to his incapability to feed his fish.
“I’ve needed to minimize down on the variety of fish I purchase,” he mentioned. “As a substitute of getting 10,000 items, I now get 2,000. But, I nonetheless solely handle to feed them as a result of feed is so pricey.”
Feyisetan additional mentioned that with the hovering costs, extra fish farmers could also be pressured to shut their ponds. He famous that many farmers have moved into different companies as a result of they can not afford to purchase feed and different inputs.
The World Financial institution information says that Nigeria is Africa’s third largest producer of fish, producing 1,169,478 metric tons. Egypt is first whereas Morocco is second on the continent at 1,934,743 and 1,387,815 metric tons respectively.
Over 80 p.c of Nigeria’s home manufacturing is completed by artisanal small-scale fishers from coastal, inshore, creeks of the Niger Delta, lagoons, inland rivers and lakes, the Meals and Agricultural Group says.
However the fish farms and ponds are actually in peril because the rising value of feed has pressured many farmers to desert the enterprise because it turns into more and more unattractive, Feyisetan mentioned.
The rising costs of uncooked supplies for processing fish feed similar to maize, soybeans and minerals are driving the rise of feed prices, he mentioned.
In line with him, costs of maize and soybeans, that are key protein substances within the manufacturing of the feed, have risen by greater than 100% in a single yr.
BusinessDay findings present {that a} metric tonne of maize at the moment sells for a mean of N600,000 to 1million, relying on location. It was half the worth in late 2022.
“Maize and soybean are costly. Even in the event you get the cash to purchase them, they aren’t straightforward to search out available in the market. We not have many farmers of their farms once more. This has lowered native sourcing of uncooked feed supplies,” Feyisetan added.
Meals inflation, which is a significant driver of headline inflation, was 40.66 p.c in Could 2024.
Opeyemi Adeniyi, farm supervisor of Braveness Farms and Agro, mentioned she has needed to search for alternate options to feed her fish similar to boiled hen because of the excessive feed costs.
“It’s changing into very robust to purchase feed on the market as a consequence of excessive costs,” she famous.
The lately launched Nationwide Agricultural Pattern Census Report ready by the Nationwide Bureau of Statistics (NBS) revealed that solely 5 p.c of agricultural households in Nigeria are engaged in fish farming.
The report revealed that among the many complete communities interviewed, about 68 p.c reported that low monetary functionality, poor entry to credit score and inadequate infrastructure had been main constraints limiting the sector.
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Francisca George, a professor of Aquaculture and Fisheries Administration on the Federal College of Agriculture, Abeokuta, mentioned that fish farming is a profitable enterprise however farmers want correct understanding to keep away from working at a loss.
“Aquaculture is comparatively new, but it surely’s very nicely developed and remains to be growing in Nigeria. It’s the fastest-growing agricultural enterprise worldwide,” she mentioned in response to BusinessDay questions.
In line with her, whereas the enterprise is capital-intensive, its returns are worthwhile, urging that farmers ought to see past the associated fee to the rewards that comply with.
“Fish diets include massive portions of protein and we all know protein in Nigeria will not be low-cost. The feed carries over 60 p.c of the working value of aquaculture, so it’s costly. Nonetheless, the conversion fee is superb,” George mentioned.
For Esther Feyisetan, chief govt of Feyi Smoked Catfish, who’s into the processed aspect of aquaculture, insecurity has pressured many farmers to different companies and that is affecting native sourcing of feed.
“Numerous farmers have left their farms as a consequence of insecurity and it’s affecting the provision of some main substances wanted within the manufacturing of fish feed,” she advised BusinessDay.
