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ANALYSIS OF THE PROFITABILITY OF FISH FARMING IN WARRI SOUTH LOCAL GOVERNMENT AREA OF DELTA STATE, NIGERIA.
Abstract:
This research work was designed to assess the profitability of fish farming in Warri South Local Government Area of Delta State, Nigeria. A purposively sampling technique was used to select fifty (50) fish farmers from the study area. Data collected were analyzed using descriptive statistics- frequency , percentages, while budgetary and gross margin was used to determine Farm Net Income (FNI). The study indicates that variable cost accounted for (72.95%) of the total cost while fixed cost of production accounted for 27.05%.The result shows that a total cost (TC) of N592,316 was incurred by a respondent per farming season while total revenue (TR) of N976, 622 was realized with a returning gross margin (GM) of N544, 528 and a net farm income (NFl) of N 384, 306 per farmer per annum, thus indicating that fish farming is profitable in the study area. Constraints encountered by the farmers includes, insufficient funds, high cost of feed, lack of processing/preservation/storage facilities and market price fluctuation. The study thus recommend that government and other stakeholders should help provide cheap sources fish feed , while also making funds available amongst others.
Keywords: Fish Farming, Gross Margin, Net Farm income, Profitability , Nigeria.