June 8, 2016 – Catfish Farmers Abandoned Business Over Increased Price Of Feed, Pepper Soup Lovers In Trouble
Catfish Scarcity Looms In Nigeria As Farmers Quit Business Over Increased Price Of Feed
Catfish scarcity is looming in Nigeria as the hike in prices of feeds has forced some fish farmers out of business.
Some farmers who spoke on the issue on Wednesday in Lagos described the development as worrisome, calling on government to ensure price stability in the industry.
Skyretting Feeds had in the first week of June increased the price of a bag of its 2mm feed from about N5, 000 to N8, 000.
A farmer, Mr Emmanuel Ogharegbe, said that many of his colleagues had since abandoned the business, due to arbitrary hike in the prices of feeds.
Ogharegbe said the price hike did not translate to an increase in the price of fish as fish traders operated a cartel that could frustrate any increase in per kilo price of fish.
Another farmer, Mrs Josephine Obi, wondered how she would survive if the price of feed continued to increase.
“On June 1, I received a text message from a woman who was selling feeds to me announcing an increase in the prices of feeds.
“Early this year, a Coppens Feeds increased its price and we shifted allegiance to Skretting Feeds. Now, the price of our new brand has increased by more than 50 per cent.
Her colleague, Mr Olushola Ogundele, who decried the hike in feed price, appealed to the Federal Government to come up with a policy that would ensure price stability in the agricultural sector.