Nigeria: Why Abuja fish farmers increase catfish price from N1,100 to N1,800 per kg

Frozen Whole Catfish

Seafood

Nigeria

Market & Price Trends

Published Nov 19, 2023

Tridge summary

Following a meeting between fish farmers and catfish traders in Abuja, the price of catfish has increased from N1,300 to N1,800 per kilogram. The fish stakeholders from Ibadan and Ilorin have agreed to this price hike. Fish farmers in Abuja have suffered significant losses recently, with the cost of raising 1,000 fish exceeding the amount sold. They are calling for the government to provide feed subsidies to sustain the fisheries business in the Federal Capital Territory.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Following a meeting between fish farmers and catfish traders in Abuja on Wednesday, November 1, 2023, the price of one kilogram of catfish will now sell for N1,800, up from the initial N1, 300 per kilogram. A price hike and maintenance of this new regime was agreed upon by the fish stakeholders from Ibadan and Ilorin. Additionally, updated prices showed that 700g–900g of catfish would now cost N1,400, while 500g-600g would cost N1,300. The Abuja fish farmer’s working committees presented the feeding plan for 1,000 fish, which reveals that farmers have suffered significant losses recently. The total cost of raising 1,000 fish was N1.3 million, and the ratio indicates that 1kg of fish costs 1300 with additional hidden costs, while farmers have been selling their fish at a loss at N1,100 per kg. Juvenile seeds currently cost N45 each, making a thousand pieces cost N45,000. According to statistics, 90 percent of Abuja’s fish farmers stock Clarias catfish rather than hybrids, while ...

Source: Daily Trust (ng)