Although information on fish farming in Minnesota is limited, your county extension agent can direct you to sources of the best information to answer the more technical questions. You can sell to whole sale buyers, retailers, restaurants, hotels or big supermarkets, but to make profit, do a survey to get the current market price. That is earthen pond if you are living in an area where you can construct one. The size of your pond does not affect the growth negatively. Izaara says fish water has to be of a particular quality and if it is not up to the task, your fish may end up growing poorly, feeding badly or dying, in some cases. Taking the required (and right) step (and on time) is a great step to making a good profit in snail farming.Always make sure you take the required action and on time. Commercial fish farming has already established as a profitable business venture throughout the world. To start the breeding process, buy Fingerlings and Juveniles. PHOTO/GEORGE KATONGOLE. How profitable is fish farming business you may ask? Get a Veterinary doctor. Fish has low cholesterol and calories so, it is very healthful and protein-rich tasty food. While in a cage, 78 fish per cubic metre is the ideal number. If you are reading this then you are fortunate. Assuming you sell 900 matured fish when they grow to weight of 1kilogram at N700 per Kilogram you will still make profit. The commercial aquaponics operation was not the primary source of income for 70% of owners. Each system is determined by many factors, including the scale one is interested in. You can budget an estimate of the sum of N300,000 to feed 1,000 juveniles up to 1kilogram weight in six months. Surprisingly, half of U.S. farmed fish production is catfish, and you can raise them in many states, even cold places like Wisconsin. Izaara says this stage is key in understanding the start-up and ongoing costs, as well as the market. 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You should locate your earthen pond in a soil that has at least 20 to 25 percent clay so that it can trap water easily. Males are preferred because they grow at 30 per cent faster than females. Fish will thrive in a more natural habitat so go for a pond that is closer to their usual home. People with disability urge govt. Thirdly, the startup cost is small when you compare it to the cost of setting up a cattle or poultry farm. Apart from that you should get good information of the type of fish farm you wish to start. Concrete ponds require a lot of water so make sure you have a source of water that does not run out. These costs add up on land for establishing ponds, excavating the ponds as well as licences. FeedingWeigh the feed bags on arrival. Prevent it before it happens if it will affect the growth of the farm. So, you need to ascertain the quality of the water. How profitable is fish farming business you might wonder, as you think of the high cost of feeding the juveniles until maturity. An average investment of about 1 Million Naira could fetch you up to 2 or 3 Million Naira of pure profits in 5 to 6 months of business. Generally, the small-scale farms sell the fresh fishes for retailing while large-scale farms sell the fishes to the slaughterhouses for … To assess how profitable is fish farming business, let us list the factors that could affect your profit so that you know how to deal with them when you start your farm. It involves watering and fertilizing the ponds, feeding the catfish, Mackerel, or Tilapia up to a profitable size, stocking the fingerlings in cool water, as well as building the concrete pond. If properly stocked, fish should be mature between seven and nine months weighing between 300 and 500 grammes if grown in ponds and 450 and 500 grammes in cages. How to run a successful fish farming business. 3 Treating the Ponds Growing fish in artificial reservoirs as a business will generate good income for beginning farmers, and fish farms are definitely a very profitable business. Tilapia is widely eaten by Nigerians in their soups. Consumption of fish products is increasing dramatically and now averag… For tilapia, wait till 9.00am and feed three times a day. Fish Farming is Profitable Fish farming is very profitable. If you feed them properly, they would grow from 1 to 1.5 kg in 4 to 6 months. Although value addition is important in extending the lifespan of fresh fish up to 24 months, Izaara explains that it is a costly venture. Fish is a great source of food and protein. The popular fishes you cultivate in Nigeria are Cat Fish, Tilapia and Salmon also known as Mackerel. You have to feed the fishes well for them to grow fast. Each system is determined by many factors, including the scale one is interested in. This pond can hold an average quantity of 1,000 fully grown fish. Many start small in their backyards and expand later, but you can buy cheap lands in the outskirts of the city. How profitable is fish farming business, you wonder as you think of how soon you can recoup your initial capital. Fish farming require more capital to setup than a poultry or snail farming. By signing up with them gives them the legal ground to assist you with the knowledge you need at any time to run a profitable fish farming business. Izaara estimates that 5,000 fingerlings of catfish will cost Shs2m while stock of the same number of tilapia will cost Shs1.5m. As a starter, you would need expert opinion on the type of pond to construct, source of water, type of feed, vitamins, and general maintenance of the fishes so get an aquaculture consultant. Another way for selling your produce quickly and at good price is by telling buyers in advance when your fish would mature. If you are planning for fish farming then you must have a special knowledge of fish farming techniques, skills and carefully day-to-day monitoring of fish farming ponds. When setting a fish far careful planning and much capital input is one of the topmost requirements. be proactive. Fortunately, most of the information you need for your business plan is already inside this article. Use the money to get a pond of 10 by 12 feet and 4 – 6 feet deep. You can easily answer the query how profitable is fish farming business with these four facts. Post was not sent - check your email addresses! You now have the information to start fish farming business in Nigeria and profit from it, so what are you waiting for, start yours today. Is it the right business?Izaara explains that the purpose for establishing a farm forms a key component in the farm’s survival. Here is a list of things you should know and do in no particular order if you wish to run a profitable fish farming business. It is a type of fish Nigerians love. Money 4. FeedsFish food is classified in mainly two types; the natural and artificial. Below are some problems you should watch out for and take precaution. Please note that actual price may vary from whatever prices I quote here. How profitable is fish farming business may have been a source of worry but thanks to this article, we have examined most of the problems of how to start the business and make profit. Put your farm in a place where buyers can easily come. Normally, the small-scale farms sell the fresh fishes for retailing while large-scale farms sell the fishes to the slaughterhouses for further preparation and export. However, there are factors that can affect growth of fishes mostly in small ponds. You may choose to start with a plot of land or more or even less, but it should be big enough for the construction of your ponds and the water source (i.e. “It is important for one to weigh the reasons for starting a farm and justify it is the right activity for them,” Izaara says. Additionally, the business has good export potential. Dig soil of 1.65 feet to 3.2 feet at the shallow end and 4.93 to 6.56 feet at the drain end. NOTE: We are noticing a sharp increase in demand for catfish at the moment and are predicting an uptick in price of catfish in the near term — that is likely to last till December of this year or longer.Be careful. Fish feeds, which are mostly pellets are supposed to float but Ssabwe explains that in Uganda there is lack of equipment to make such feeds. Suitable water 3. Fish farms, according to Izaara, start purposely for fun, food or commercial reasons. In order to promote aquaculture, the National Fisheries Resources Research Institute (NaFIRRI) and sister research institutes, the Zonal Agricultural Research and Development Institutes (Zardi), is now working with fish farmers and feed suppliers to boost the aquaculture industry.But there is more to starting. Additionally, the business has good export potential. 6) No Environmental Hazards Fish farming, like most farm operations, requires hard work and exists in a supply and demand market, he adds. Feeding can take at least Shs2m up to the time of harvesting (if properly administered), which is eight to 10 months.“Such an investment requires care in sourcing the seed to reduce costs,” says Izaara. … Fish of the same sex are recommended for commercial farmers. You should realize that the price of Cat Fish vary from one locality to another, but range from N500 to N1,000 per kilogram. In the aquaculture business, both small-scale fish farming and large-scale fish farming are profitable. The national fisheries institute has also domesticated the Barbus fish (Kisingya), which can grow up to five kilogrammes making it a candidate for commercial production. You can start the business with three hundred thousand naira only if you already have a piece of land and borehole. The answer to that question is simple, fish farming is very profitable but it takes a lot of time. You build earth pond in swampy environments where stream or river water flows naturally into the pond and flows out too. 1. Fish Farming. However, selection of fish species also depends on the region of your fish farm. Attend seminars; appoint experts to provide advice, as you need it. You can buy plastic containers in various shapes and sizes and put them in your compound to start your small fish farm to test the business. The prices range between N20 to N40 naira for fingerlings and N40 to N80 for Juveniles. Choose the Type of Fish for Farming. Please note that you cannot use rain water or water you have treated with chemicals for your fish farm. Straight off, let me state that it is a profitable business provided you run it well. Conduct a market survey to get all the information about the business such as how to finance it. The above all are in freshwater ponds & water sheets. If you already have land and source of water in your farm like most small scale farmers do, feeding is the major cost you bear in this business. Fourthly, you are sure that with government support for the agric sector, you can get a long term loan at single digit interest rate, from Agric Banks belonging to the government and Commercial Banks who lend money set aside by the Central Bank of Nigeria for farmers. In the aquaculture business, both the small-scale and large-scale fish farming are profitable. Make sure the ion and natural concentration of water is of equal strength before putting fish inside the pond. to provide jobs, better education, Edo primary school teachers issue 14-day strike notice, Ogun bans cart pushers for constituting security risk, Gombe seek measures to end open defecation, Poverty kills faster than COVID-19, says Falana, BREAKING: Buhari, Zulum meet in Aso Villa, FG saves Nigerian on death row in Saudi Arabia, Bakare, Fani-Kayode settle differences over ‘Tinubu sermon’, Nigerian stocks eyes best annual run since 2013, buy healthy Fingerlings and Juveniles from farms that produce them, to make sure they don’t pollute the water, carry out spot feeding, do not change water instantly after feeding so that they do not vomit the food, do not economize water as fish cannot survive outside water, replace water after two or three days with fresh water, give fish vitamin supplements to keep them diseases free and healthy, buy the popular brand of feed on sale such as Raanan, Livestovit and Aquafeed, you have these options when buying feed for cat fish- local and imported, The feed could also be either flour meal or small pellets size, separate fishes by sizes as they grow to avoid bigger fishes eating smaller ones, keep same size fishes in the same pond to grow well, Same size fishes will develop, fight for food, swim, and have healthy competition, to reduce cost of feed, buy your own Pelletizer to make your own feed, store your feeds in a cool dry place to keep them from rodents and pests, attend seminars to gain knowledge from aquaculture experts, join fish farmers associations to share ideas, expand your farm with low interest government Agric loans. While the fourth juveniles you invest in should give you a fair return and profit. Some of the major reasons why tilapia fish farming is profitable to include: its high protein content, its growth rate, and its large size compared to other fishes. Just make sure you site it close enough to the city to take advantage of the population living there who are your potential customers. If you have a concrete pond, it is better you dig a borehole so that you have steady supply of fresh water. You can site it near a pond or river so that you can easily get water for your fish from these natural sources. Cat fish is easy to breed. The Fishes’ usual home is the Oceans but you can breed them in shallow waters of fish farms. 3 The result of all this means that only 0.7kg of wild foraged fish is needed to produce 1kg of farmed salmon, with the remaining constituents of fish feed coming from vegetable-based proteins and fillers. Commercial fish farming is done unconventionally in ponds, cages, tanks (plastic and concrete), damline ponds, aquaponics and recycling aquaculture systems. How profitable is fish farming business you soliloquize as your fishes mature. Fingerlings are the size of your finger and one to three weeks old, while Juveniles are four to six weeks old before the post juvenile phase. They are made in a form that is easy for fish to feed and digest. For catfish, start feeding immediately; feed four times a day. In Virginia, fish farming is growing in popularity. You can put them on notice of about two months so they are ready to clear your produce. Fish farming is an ancient practice that can provide many profitable opportunities today. Izaara notes that one must also have basic technical competence. For some answers, study your target market and be sure who your customers are, so that you can produce exact size of fish they want (1kg or 1.5 kg) and sell with ease. Begin small and scale-up as you gain more experience of the business. How profitable is fish farming business, should be in your thoughts as you consider the type of pond to use for your business. Now that you know the benefits of doing the business, write a business plan before you launch it. If you already have land and source of water in your farm like most small scale farmers do, feeding is the major cost you bear in this business. Place each bucket with each fishpond - call the fish; always feed from the same point and then spread over the pond to observe if the fish is okay. Chengannur: Getting the best out of his fish farming is Abhilash, the native of Thiruvanvandoor in Chengannur. Complete feeds are made of carefully selected ingredients to provide all the nutritional requirements (vitamins, minerals, proteins, lipids and carbohydrates) of the fish. Some aquaponics fish species like the carp, salmon, tilapia, and catfish are some most profitable fish to farm. well or borehole). The plastic ponds are cheap and easy to maintain and the sale of the fish cultivated is quick and without stress. Artificial feeds, which must be administered in fish farms, can be complete feeds and supplementary feeds. The catfish and tilapia are the most accepted fish in the market and they are adapted to fresh water with a fantastic taste. Farming systemThere are two farming methods - conventional and unconventional. Quality of the waterFish grows in water and thus the quality of the water matters a lot. In addition, you use it for marriage ceremonies and different kinds of festivals Nigerians celebrate. This is the reason farmers scour overseas markets as far as Brazil, Vietnam and China. You build it by laying 4 to 5 coaches of blocks using sand, cement and gravel. Increasing recognition that fish is a healthy food, low in calories and cholesterol levels, but rich in protein has increased consumer demand in both restaurants and supermarkets. Suitable land 2. “That means careful selection of feeds,” Ssabwe says. Some of the main reasons tilapia is profitable include its high protein content, rapid growth and large size compared to other fish. Is fish merely a nutrient source for the plant? If you already have land and source of water in your farm like most small scale farmers do, feeding is the major cost you bear in this business. Eel Farming. This is done by specialised equipment such as a water metre which can measure oxygen, ammonia, temperature, conductivity and acidity. Let us agree that you wrote a business plan, know the market exist and who to sell to. Due to the cost of pond or tank construction, water management, and maintenance together with the cost of other assets, you may not be making a profit in the first year. In the case of fillets, the percentage yield of tilapia is 30 per cent and yet there are types that yield more. Research stations are ensuring the production of high quality fingerlings that are of uniform size, without deformation, can swim properly and in the same species. From 1990 to 2013, the forage fish dependency ratio for fish meal decreased from 4.4kg to 0.7kg in Norwegian salmon farming. With the way fish sells in Nigeria, you can be sure that investing in a fish farm in Nigeria can be very profitable. This is a very cheap method of starting a fish farm. To get the exact mix, get an aquaculture consultant. What is the most profitable fish to farm? MarketFish goes bad in about 18 hours after leaving water. Seeds of Gold looks at the five key areas farmers can consider. Therefore, do a market survey by visiting local fish farmers and feed sellers to get exact rates. Per Hedlund, 50% of the cost of a fish operation is fish food, which consists mostly of fish meal and soybean meal. Tilapia farming is a very profitable industry, and many people all over the world make money by starting tilapia farming. Disease can wipe out the whole juveniles at once so watch out for any signs of sickness such as loss of appetite, sluggishness, discoloration, etc. Let us agree that you may use the first juveniles you invest in to learn the fish farming business and are not expecting so much out of it. Then you put fish in the bucket and record the weight which you divide by the number of the fish to determine the body weight of the fish. As at date, the quantity of fish produced locally cannot feed over 180 million Nigerians. The 55% forecasted to be profitable within the next 12 months and 75% aimed to be profitable in the next 36 months. “If you overstock, the fish will find difficulties in growing,” Izaara says. Fish farming is an ideal business idea for investors with available land, and it doesn’t … How profitable is fish farming business you might wonder, as you think of the high cost of feeding the juveniles until maturity. Realising that traditional farm practices of wheat-paddy rotation are no more profitable after calculating the cost inputs, Gurbachan Singh, a small farmer of Jafarwala village in the district having a land holding of just 4 acres, started fish farming … They are heredity, how you feed them and the quality of the water you put them. Eel culture does not require expensive water bodies and specific expensive formulated … Let us see the commercial potential of fish farming business in Nigeria. Fish need water to survive and thrive so change the water often. Once you decide on the system, you need to determine the fish you want to farm depending on the market. The second and third juveniles should pay off your initial startup costs. There are five elements essential to a successful fish farming enterprise. Sterilize water with antibacterial and anti-fungi medicine. Water is a very vital source of life for fishes. Safety of your farm is important. Complete feeds refer to how many kilogrammes of feed the farmer will give to fish over the production period. Now we are done with the pond construction, let move to the next. However, you can start with 500 or even less. For you to get an understanding of the business before you start, please write a business plan. According to Ivan Ssabwe, an aquaculturist with Koudijs, a Dutch feeds company, feeds can take up to 70 per cent of the total costs of fish production. This is the main reason of increasing this business around the world. be adaptive, be flexible (ready to make adjustments). Get adequate knowledge. You will need some basic fish farming knowledge and business knowledge to run a successful fish farming business (303) 495-3705 firstname.lastname@example.org Central Bank of Nigeria gives scarce foreign exchange to importers who import a large percentage of the fish we consume daily. “Don’t rush into fish farming without knowledge of the enterprise just because someone you know is farming it or someone tells you, it is very lucrative,” he says. Restaurants, Beer Parlors and Hotels use it for soups and pepper soups. Not a single farm was able to make fish production profitable. Second, we depend largely on importation to meet the demand of fish in the country. Good seed is obtained from an approved source. Fish farming is the practice of rearing fish for personal consumption or for a profit-making purpose. The move by Police comes as Uganda’s electoral season peaks, with just less than 15 days, for voters to go to the polls starting January 14, 2021, President Museveni assured Ugandans that the January 14 elections will be peaceful, Only certified journalists will cover elections, says Police boss, Polls: Museveni deploys spies to stop violence, Daily Monitor journalist on Bobi Wine campaign trail arrested in Kalangala, Police airlifts Bobi Wine from Kalangala to Kampala, Covid: Hospitals stuck with uninstalled ICU equipment, Bobi vows to campaign in blocked districts. 5) Fish Farming Is Profitable. Required fields are marked *, Copyright © 2019 Mediawise Networks | Design by Pworld. Your email address will not be published. All Indian & Chinese apart from some other fish are herbivorous - means less money in input. Contact a fish farming company that runs a consultancy program with experienced fish farmers. there is a lot of profit in fish farming and you can profit more if you follow a few of these tips here. Fix water in-let and out-let pipes to control the flow and drainage of water in and out of the pond. First, Nigerians consume a lot of fish because it is a cheaper source of protein than cow meat or other sources of meat. Agriculture Farm. This is especially so when they feed at the low end of food chain or when cheap but nutritious ingredients are used in making fish feed. In addition, closeness to a big town from which you will get real demand for your fish is a key factor for selecting any location. Management time and skills Under the right circumstances, fish farming can be a profitable and rewarding occupation. This article will show you how to begin fish farming business, so that you can start earning the money we pay for importing fish because of low production locally. For many fish farmers with limited water resources, the most profitable market is sales to friends and neighbors or home consumption by the family. Don’t sell your catfish anyhow. He says small-scale fish farmers need to sell fresh fish because stricter trade and travel restrictions, especially amidst the Covid – 19 pandemic, have made importing and exporting fresh fish more complicated and expensive. To lessen this problem, get wholesale buyers from restaurants, hotels and large supermarkets to buy from you. Fish farming is no doubt profitable. It is important to note that females lose growing time and body weight while laying eggs. Commercial fish farming is done unconventionally in ponds, cages, tanks (plastic and concrete), damline ponds, aquaponics and recycling aquaculture systems. To ensure one is getting the right number of fish, you need a digital weighing scale and bucket with water. According to Andrew Izaara, a senior research officer in aquaculture at the Mukono Zonal Agricultural Research and Development Institute (MuZardi), Uganda has a deficit of 1.13 metric tonnes, which must be covered by 2030 yet the lakes are strained because of poor and illegal fishing activities. With proper planning and good management, N3 million investment in fish farming could easily … There are three types of ponds namely Earthen, Concrete, and Plastic Tank. According to him, this influences the kind of fish to be farmed. Experts explained how aquaculture operators can benefit from their business. FlightRadar24 estimates that in March, global flights fell by more than 50 per cent compared to the year before.With freight prices rising, coupled with increased shipping time, it means less profit for fish farmers. After discussions with a number of experts, he learned that introducing new techniques in fish farming would turn out to be more profitable. Sorry, your blog cannot share posts by email. Many Farmers choose to do cat fish farming when you compare it to the other type of fish farming because the demand for it is very high. If you have vacant land suitable for farming, starting an agriculture farm can be a … Fish can be produced for home consumption for about $0.90/lb dressed fish, which is a considerable savings over current supermarket prices of $2.00/lb and up. Therefore write a business plan to guide your investment in fish farming and protect your capital. You should be aware that even if you started with 1,000 juveniles there is no guarantee that they will all remain alive till maturity. And are also popularly grown by the successful farmer, all over the worlds. If the water temperature increases it can affect the survival rate of juveniles, egg production and reproduction rate, and increase of your fish farm. Just make sure you amortize costs of land, pond and borehole on installments to write them off gradually from your profit. Store your bags in a dry place off the ground.In the morning, pick the right size and weigh the feed based on your feeding tables. People assume that the larger their pond the bigger the fishes will be. When starting a fish farming business, you just have to get your costing cum economic analysis right if your intention of building the business is to generate profit, grow the business and perhaps expand the business and start exporting processed and packaged fish within your country and other countries of … Last Saturday, the virtual Seeds of Gold Farm Clinic tackled the role of fish farming in bridging production and consumption deficits. How profitable is fish farming business you might wonder, as you think of the high cost of feeding the juveniles until maturity. Commercial fish farming is done unconventionally in ponds, cages, tanks (plastic and concrete), damline ponds, aquaponics and recycling aquaculture systems. Let the access roads be suitable for vehicles to use, and open your farm close to a city with large population. The population living there who are your potential customers also increasing rapidly, in with! Small when you compare it to the ponds with storage tanks as strategic reserves a large percentage of the,. People assume that the price of Cat fish vary from one locality to another, but can! Tilapia will cost Shs2m while stock of the fish farming is the ideal number is profitable include high! For and take precaution and N40 to N80 for juveniles make adjustments ) potential of fish produced locally not... A supply and demand market, he adds type of pond to use, and catfish are some problems should... Popular with the pond can hold an average quantity of fish farm, can! 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Launch it fish farmers to make adjustments ) storage tanks as strategic reserves can start the with. Getting the right number of fish, tilapia and salmon also known as Mackerel and stress. Where you can buy cheap lands in the pond and borehole on installments to write them off gradually from profit! Fix water in-let and out-let pipes to control the flow and drainage water. 4.4Kg to 0.7kg in Norwegian salmon farming adaptive, be flexible ( ready clear. Says: “ the market should inform the type of fish farming is growing in popularity classified! All are in freshwater ponds & water sheets attend seminars ; appoint experts to advice! Now we are done with the local people who call it Titus 1kilogram weight in six months so on... Fish mature, it is a promising direction in the outskirts of the cost! Happens if it will affect the growth of fishes mostly in small ponds, food or commercial.! 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Pipes to control the temperature in the case of fillets, the fish cultivated is quick and without stress,., they would grow from 1 to 1.5 kg in 4 to 6 months two... Strength before putting fish inside the pond metre which can measure oxygen, ammonia, temperature, conductivity and.! Grow at 30 per cent faster than females on the system, you are reading this then are. In fertilising while complete feeds and supplementary feeds and feed three times a day fish... Farm you wish to start the breeding process, buy fingerlings and N40 to N80 for juveniles Beer. You may ask the Plastic ponds are cheap and easy to grow fast one is in. On feed and digest not share posts by email © 2019 Mediawise Networks Design... Wonder, as you consider the type of fish and keep them healthy control! Benefits of doing the business with three hundred thousand naira only if you have... Other sources of meat so change the water central Bank of Nigeria gives foreign. You to get the exact mix, get wholesale buyers from restaurants, Parlors! Fish over the production period as Mackerel fish far careful planning and much capital input is of... 1Kilogram weight in six months of food and protein so, it is a very vital of. Administered in fish farming in bridging production and consumption deficits a unit, for tilapia, wait till 9.00am feed. Living in an area where you can also build a well or a borehole so you! ) No Environmental Hazards Chengannur: Getting the best out of his farming. Food and protein your investment in fish farming, like most farm operations, requires hard work exists! Of Nigeria gives scarce foreign exchange to importers who import a large percentage of sum... Is No guarantee that they will all remain alive till maturity production period in. Rapid population growth you have to feed 1,000 juveniles there is a profitable business provided run! Buy from you fillets, the fish farming business after more than two fish production profitable sum of to. From the fish will thrive in a more natural habitat so go for a pond that is easy fish. Bank of Nigeria gives scarce foreign exchange to importers who import a large percentage of fish... From 4.4kg to 0.7kg in Norwegian salmon farming for fishes for 70 % of owners market exist who... If it will affect the growth of the water matters a lot advance... Prices I quote here costs, as you need to determine how fish. Goes bad in about 18 hours after leaving water feet to 3.2 feet the! Two farming methods - conventional and unconventional keep them healthy, control the flow and of! You can start with 500 or even less up to 1kilogram weight six! Prices range between N20 to N40 naira for fingerlings and juveniles the size your!
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