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Catfish Farming

The One Pager Business Plan for Catfish Farming

The One Pager Business Plan (Catfish Farming)

Presented in bite size and easy to understand language, The One Pager Business Plan highlights the basic insights and considerations that helps you to decide if and how to engage in agricultural ventures.
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World Catfish Production

Soybean
In terms of global catfish production, it is estimated that Asia, particularly countries like China, Vietnam, and Thailand, accounts for most of the catfish production worldwide. While specific global statistics may vary, catfish farming remains a prominent and lucrative industry on a global scale.
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Catfish Production in Nigeria

In Nigeria, catfish farming plays a significant role in the country's aquaculture industry. According to recent statistics, Nigeria is the largest producer of catfish in Africa, with an estimated annual production of over 300,000 metric tons. The catfish industry in Nigeria is valued at billions of Naira and provides employment opportunities for many individuals. With a growing population and increasing demand for fish, the catfish market in Nigeria holds enormous potential for entrepreneurs
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Catfish Value Chain

Farm Manager

Farm hands

Input

Selected breed (stock), Housing, Feed Medication, etc.

Husbandry Services

Farm attendant, Vet doctor etc.

Production & Processing

Marketing & Distribution etc.

Consumption

Industry Consumer etc.

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SWOT Analysis

Strength: Growing demand for catfish in Nigeria, Favorable climate and abundant water resources.
Weakness: Initial investment required for infrastructure and equipment, Need for continuous monitoring and maintenance of water quality.
Opportunity: Increasing consumer awareness and preference for locally sourced catfish, the potential for expansion and diversification of product offerings.
Threat: Fluctuations in feed prices, market saturation, Catfish theft and ripping off by middlemen.
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PESTLE Analysis

Political
Consider government regulations and policies.
Economic
Analyze economic factors like inflation, exchange rates, and consumer purchasing power.
Social
Catfish is consumed by all, and it has no religious taboo.
Technology
There is improved equipment available to enhance production, catfish hybrid breed availability, and high-quality formulated feed available.
Legal
Easy legal licensing, permits, environmental regulations, and food safety standards.
Environment
Assessable good water quality, low effect of climate change, eco-friendly business venture.
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Technical Consideration

Acquire knowledge of catfish production
Ensure you have the necessary facilities such as ponds and tanks
Water management strategy, feeding and nutrition
Stocking and stock density
Disease prevention and stock management
Harvesting (cropping)
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Feed Sizes

Catfish SizesFeed Requirement Size
Fingerlings1.5mm
Post2-3mm
Table size/ Adult size4-9mm
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Marketing and Distribution

Fish Farming in Nigeria started gaining widespread recognition in the year 2000 and has now become a business that all farmers are venturing into. Statistics have it that only 50% of the demand for fish has been met. Nigeria, a major consumer of fish has been known for its large importation and dependence on fishing in rivers, lakes and the sea, yet the demand for fish is still high. The target market for catfish is:
Online Customers
Households
Individuals
Hotels
Restaurants
Fast food eateries
Agriculture merchants (wholesalers and retailers)
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Operations

Intensive catfish farming can be managed with a framework of about 3-4 people.
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Risk

Disease Outbreak
It can lead to reduced growth, mortality, and financial losses.
Mitigant
Implement proper biosecurity measures such as regular disinfection, quarantine protocols, and regular monitoring of water quality.
Probability Level Medium Probability
Technical
Poor technical knowledge of catfish production.
Mitigant
Acquire knowledge through training and get a good mentor.
Probability Level Medium Probability
Market Fluctuations
It can affect probability revenue of operations.
Mitigant
Establish strong relationship with customers and diversify marketing strategies.
Probability Level Low Probability
Environment Factors
Changes in weather patterns, water quality, theft or natural disasters such as flooding can impact catfish farming.
Mitigant
Understanding the history of the location. Good facilities with quality water are available, and use a water test kit during production to check water quality. Provide security theft and use parameter fencing and pond surface netting against predators.
Probability Level High Probability
Financial Risk
Feed increment, diseases outbreak, market volatility, can lead to increased expenses
Mitigant
Having a well-planned financial strategy, seeking professional advice and having contingency plans can help minimize the financial risk
Probability Level Medium Probability
Operational Risks
Equipment failures, labor shortages, and diseases outbreak.
Mitigant
Adequate maintenance and providing necessary miscellaneous for labor can help mitigate operational risks on your farmland.
Probability Level Medium Probability
Pricing
Poor pricing of catfish
Mitigant
Target the processor and final consumers for high profit venture. Sell at the standard price set by Catfish Farmers Association of Nigeria (CAFAN).
Probability Level Medium Probability
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Economics of Production (October 2023)

TAO Market Survey
It is advised to use quality feed as 60.1% of your cost of production is on feeding, If poor quality feed is used the quantity of feed used will also increase.
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Profitability of Production (October 2023)

TAO Market Survey
- Salaries and operating expenses are amortized per hectare
- Profitability can move widely with fish price movements
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Funding

There are funding sources for medium scale catfish farming if capacity and capability are demonstrated. Typical funding sources from formal financial institutions include:
Out Growers
Investors and partnerships
Development interventions
Grants
Banks: Microfinance and commercial
Funding considerations will require that feasibility and viability are demonstrated, some track record in agriculture will also support a positive funding outlook.
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Who is Suited for This?

Anyone interested person that has the knowledge or is ready to acquire knowledge on catfish production. The best-suited are agriculture students, graduates, professional farmers, side hustle farmers, and enthusiasts.
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Consideration Score

  • Viability --- High
  • Feasibility --- High
  • Profitability --- High
  • Ease of entry --- High
  • Aggregate Risk --- Medium
  • Probability for Growth --- High
  • Resilience and Sustainability --- High
  • Aggregate Consideration Score --- High
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Conclusion

Like several other agribusinesses that have great potential for both scale and profitability starting fish farming in Nigeria or across Africa is a great agribusiness to start up if executed at the right scale. We also know that fish farming in Nigeria is one of the most profitable agribusinesses to venture into, and as such, investing in agribusiness is a smart decision to make, especially with its local demand and very high export potential when processed.
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Engage in Agriculture

  • Junction
  • Young Ranchers
  • Boat
  • Telagri
  • Farm Tinder
  • Living
Elements