SMOKED CATFISH MARKET Oct 16, 2018 19:48:54 GMT 1
Post by Trade Forum on Oct 16, 2018 19:48:54 GMT 1
This large number of Nigerians and other Africans living abroad has resulted in massive increase in the demand for Nigerian food stuffs internationally.
This has created huge opportunities for exporters who make lots of cash exporting our local food to the UK and US. One of such foods highly demanded abroad is catfish.
As a result of transcontinental migration, and a growing appreciation for African food and flavours, the demand for dried and smoked fish appears to be increasing.
Talking about the enormous profit potentials in the business, the local market demand for smoked catfish is high and demand for it abroad is even more.
The business of smoked and packaged fish has become a serious income generator for those doing it in the right way. You can sell to the open market, supply to the supermarkets and stores and export it overseas. It is indeed a big business with unimaginable potentials.
Starting smoked catfish business is very simple and even easier than operating a fish pond which comes with additional stress of making fish pond, getting fingerlings, breeding and feeding them to market size which may take at least three months before selling them in the market.
Simply put, all that is required for the business is buying, processing, smoke drying it, packaging it in a branded polythene bag and having them sold in the market.
And if you don't want to be involved in the process of the fish drying, getting smoked Catfish is not difficult in Nigeria.
You can visit any Catfish farm in your area and buy, you will get large quantities of Smoked Catfish to buy at N2,500 to N3, 000/kg. While Smoked Catfish in the international market sells between $30 to $40/kg.
There is good money to be made from smoked catfish locally if you handle it like serious business, not to talk of expanding your business beyond the shores of Nigeria.
Starting smoked catfish business may not even cost you up to N500,000 as that amount is capable of getting you an (ISO) machine for the drying and sealing of the fishes, a business name with CAC, and NAFDAC approval.
To begin on a small scale, with N60,000 - N100, 000 you can start exporting Smoked Catfish to buyers abroad and make up to 80% as profit.
Assuming that in a month, what you were able to sell are 1,200 packs and each pack sold at a moderate price of N1,000, now multiply that by N1,000 which is N1,200,000. Remove your cost price which per one which may be not up to N600, add up what you get and then compare it with what top average office workers earn per month. You see?
Smoked fish export, accounts for huge foreign exchange earnings and employment opportunities for many people.
Many countries economy have improved on the huge potentials and earnings made through smoked fish export.
You could sell directly to persons living abroad that is visiting Africa on business or holidays, or send it over to them by air on a repeat basis while they are back in Europe.
Major buyers can be found across Europe and America and many major cities around the world.
There is a 20kg export limit by most European countries which is a very small amount allotted to exporters of dried catfish. The size can easily fit into a bag and transported by air to the destination.
The capital required to transport smoked fish to Europe is greatly reduced because of the European policy. The small amount has some advantages which include small capital investment. Exporting the minimum 20kg requirement is favourable to a
beginner because it does not only significantly reduce the capital required for the business, it also reduces the risk involved.
America is also a major buyer of smoked fish, you can export smoked catfish in large quantities to the United States of America.
They allow containers of the product once the exporter complies with their regulations.
The major regulatory body that requires registration from the exporter is the US Food Drug Administration.
While it was much easier to send container loads of smoked fish to the US and Europe, increasing health and bioterrorism concerns have led to very strict rules on imported food and animal produce.
To be successful in this business, you must focus on the details and comply with all the requirements.
Failure to comply could result in a loss in revenue due to rejected product at the ports after inspection.
Some reasons smoked fish billed for export are unapproved or seized include:
- Poor packaging and handling of products.
- If traces of polycyclic hydrocarbons are detected in the fish during inspection.
- Insect infestation.
- Bad smoking techniques to process the fish.
- Wrong wood and charcoal during the smoking process.
- Other dangerous contaminants found in the smoked fish.
- Improper labeling and documentation.
You too can start exporting Catfish in small scale from Nigeria and make some cool cash in Pounds & Dollars for yourself.