Open AccessYield performance of commercialized upland fish farms in Ondo state of Nigeria
Author(s) -
Taiwo Ejiola Mafimisebi
Publication year - 2021
Publication title -
nigerian journal of animal production
Language(s) - English
Resource type - Journals
ISSN - 0331-2062
DOI - 10.51791/njap.v30i2.1489
Subject(s) - hectare , profitability index , variable cost , agricultural science , monoculture , fish farming , catfish , profit (economics) , net profit , fish <actinopterygii> , agriculture , yield (engineering) , fishery , business , aquaculture , biology , agronomy , economics , ecology , accounting , finance , microeconomics , materials science , metallurgy
The study examined the socio-demographic characteristics of fish farmers, evaluated the profitability of upland fish farms in the study area and determined the key variables to which profitability is responsive. Empirical results showed the majority of the fish farms came into business less than ten years ago while 62.0% of the managers of the fish farm had formal education. The total farm size of the twenty-two fish farms surveyed was 229,112m2 and the average size of a fish pond unit was 1.863m2. Table fish production was preponderant over fingerlings production. About 70.0% of the fish farms practised monoculture, 23.33%used polycultural method and 6.67% employed both. The major fish species commonly cultivated were Tilapia, Alextes, Heterotis and Catfish. The fixed cost per hectare of fish farm for the period studied was ₦517,591.48 while variable cost stood a 2,053906.68. The most important components of fixed costs were labor (41.02%), bore-hole and water pumps (22.10%.) and land and pond construction (14.5%). For variable cost the most expensive items were fish feeds (51.44%). fish seeds (17.30%) and transportation and fuel (13.16%). The average profit per hectare of fish farm was ₦960,037.57 per year. Various profitability ratios revealed that investment in uppland fish farms is a worthwhile business but investor's need to do something about the fluctuating trends of some of the indices since the desirable trend is either a consistent increase or decrease. A sensitivity analysis carried out showed that profitability is more responsive to the unit price of fish compared with cost of inputs. The NPV, B/C and IRR were ₦1,571,710.15, 1.53 and 52.4% respectively. The three indicators attest to the fact that fish culture is very profitable in the study area. It is recommended that the various governments make access to Iand and investible funds at affordable rates a priority in the study area. There is also the need for the establishment of a modern hatchery which will supply fingerlings to fish farmers at subsidized rates.