Fish Farming: Cost of fish feed rises by 200%
Ghana’s aquaculture industry is facing a significant challenge as stakeholders lament the rising cost of fish feed and materials in the market. The cost of fish feed has reportedly multiplied by 200 percent, making it difficult for farmers to produce their stock at an affordable price. As a result, the industry has become heavily reliant on imports to enable them to produce feed for their fish, which has led to a spike in prices of fish in the markets.
The Chief Executive of the Chamber of Aquaculture Ghana, Jacob Adzikah, expressed his concerns about the high cost of feed and its impact on the industry. In a recent interview, he stated that the rising cost of ingredients such as maize and soya is also contributing to the problem. He noted that the high cost of feed is accounting for the increase in fish prices in the markets and that drastic measures are needed to address the issue.
Moreover, Adzikah pointed out that many fish farms are closing down due to the high cost of production, leading to job losses in the aquaculture industry. The sector has been hit hard, and the consequences are likely to be felt for years to come. He highlighted that a lot of farms are gradually going down because the cost of production is just too high, and once these farms collapse, it will have a ripple effect, resulting in job losses in the aquaculture industry.
Adzikah further made a call to the government to consider tax waivers and research to discover new ingredients for fish feed production, among other measures. The industry needs support from the government to help reduce the cost of production and make the sector more sustainable in the long run. He also called for the government to provide more incentives and subsidies to help boost the industry and support local fish farmers.
The challenges facing Ghana’s aquaculture industry are not unique. Fish farmers across the world are grappling with similar issues as they try to keep up with the rising demand for seafood. Aquaculture is a vital industry that plays a crucial role in providing a sustainable source of protein for millions of people worldwide. However, to achieve this, the sector needs support from governments and other stakeholders to make it more efficient, productive and sustainable.
Ghana’s aquaculture industry is facing a significant challenge, with the rising cost of fish feed and materials taking a toll on local fish farmers. To address this issue, there is a need for the government to provide more incentives and support for the industry. The government can do this by providing tax waivers and conducting research to find new ingredients for fish feed production. This way, the sector can become more sustainable and productive, and local fish farmers can continue to provide affordable fish to Ghanaians.
