FISH FARMING BUSINESS

Fish farming like every other agricultural business has grown tremendously over the years. In a nutshell, fish farming is the agricultural system or process in which fishes are reared for sale or for consumption, typically in an artificial ponds.

Fish farming is highly lucrative as fishes come in high demand because of their richness in calcium and phosphorous and they are great source of iron, zinc, iodine, minerals, magnesium and potassium, hence they are in high demand which create big market for it.

Despite the popularity of fish farming industry, it can be best described as being at the infant stage when compared to the large market potentials for its production and marketing, hence, it is yet to reach its full potentials.

TYPES OF FISH FARMING

There are many species of fishes but only few can be breed for consumption and commerce. In this article, I'll highlight three major types of fish species for fish farming business.

1) CATFISH FARMING

This specie of fish farming is arguably the most cultivated in Nigeria because of the high demands due to it special delicacy and flavor. Also, it is the most easy species to breed which explains why most fish farmers prefer catfish. One of the greatest challenge of catfish fish farming is the unavailability of fingerling which can be solved using nursery farming system. This will be explained in subsequent articles.

2) TILAPIA FISH FARMING

Tilapia fish farming is another popular fish in Nigeria after catfish. It is high in demand due to its affordability and nutrients. Tilapia fish species live in fresh shallow water and is every easy to breed and they also grow fast.

3) MACKEREL FISH FARMING

Mackerel fish popularly known as Titus. It is perhaps the most eaten fish in Nigeria especially by students. It is unfortunate that it can only be caught in salt waters but not yet farmed in commercial quantities, also they're still studies how to condition artificial fish ponds to grow mackerel fish farming.

REQUIREMENTS FOR SETTING UP FISH FARM

1) FIND A LAND

One good thing about fish farming is you can set the farm anywhere including your residential area. Look for a cheap land. For a start, half plot of land is good to go.

2) CONSTRUCT PONDS/TANKS

There are two major types of fish ponds; concrete pond or artificial fish tank. This requires the service of an expert pond construction engineer to get the specifications right.

3) INSTALL OVERHEAD TANK

This serves as the water reservoir from your fish ponds get supply water. The tank has to be connected to your ponds through the plumbing system to make it easier for water to flow into your ponds when needed.

4) BUY JUVENILE FISH

You can buy juvenile fish from another farm that specializes in it. For optimal harvest, you need to get the high yield species of catfish or tilapia.
BENEFITS OF FISH FARMING

1) FISH IS POPULAR

Fishes and fishery products constitute more than 60% of meat products in Nigeria market and they are the most popular animal products. You'll certainly not find it hard to move your markets.

2) FISH SELLS QUICK

Fishery products are hot commodities in the market and they sell faster than any other animal products. Also it is relatively cheaper than meats which makes it the number one choice amongst average Nigerian homes.

3) FISH MATURES QUICKLY

Fish grows and matures quickly compared to other animals. This is helped by practices which makes it possible for farmers to increase the fastness of their fish growths by given them certain feeds which ensures quick harvests.

4) FISH FARMING IS PROFITABLE

Fish farming is very profitable. With proper management, fish farming business doubles and even triples investment within 6 months. N500, 000 investment when properly managed can triple to N1500,000 in 6 months.

5) NO ENVIRONMENTAL HAZARD

Fish farming does not pose danger to the environment. Unlike any other livestock farming, you can set up your fish farm anywhere including your residential areas as long as there is a spacious compound. You can set up your fish farm without a necessary supervision from a regulatory body.

RISKS IN FISH FARMING
The following are the risks involved in fish farming;

1) VERY SENSITIVE TO MANAGE

Unlike other animals, fish is very sensitive to mange and the slightest mistake could prove very consequential and costly. Errors could result in degenerated growth of your fish or even death which may cause massive revenue loss.

2) FISH FARMING IS CAPITAL INTENSIVE

Setting up a fish farm requires huge amount of capital. Setting it up requires more careful planning in order to avoid mistake. A relatively small fish farm may take up to N500, 000 to set up while medium scale fish farm can gulp millions.

3) FISH IS PRICED HIGH

Fish produced from a fish farm sells higher than those caught from the rivers due to the cost of production. You might find yourself in a loss if there is a good quantity of fisherman's fish in the market as people would prefer the cheaper ones.

4) NO BYPRODUCT

Unlike poultry and other livestock farming, there is no byproduct in fish farming. So there is no extra profit coming in, all you'll get is the flesh.

Finally, fish farming in Nigeria is still untapped goldmine based on the fact that there is an ever increasing need for it as the best alternative to meet the protein need of the people. You should consider venturing into it.