Peri-Urban farmers' perception of profitability of catfish production in Osogbo Metropolis, Osun State, Nigeria

Abstract

This study analysed the peri-urban farmers' perception of profitability of catfish production in Osogbo metropolis, Osun State, Nigeria. The socio-economic characteristics of the respondents, the cost and returns on catfish production, gross margin and factors influencing gross margin of catfish production were identified.
Simple random sampling technique was used to select 90 respondents. Data were obtained through a structured and validated interview schedule. Descriptive statistics, budgetary technique and multiple regression models were used to analyze the data. The results of the study show that majority (91.1%) of the catfish farmers were in their active age of less than 60 years, with the mean age of 45years while the majority (75.56%) of the respondents were male. The farmers perceived that catfish farming was profitable ( = 4.08). Catfish farmer perceived the venture profitable but with the high cost of feed and labour. It has an average gross margin of ?897,843.6 per annum and the Rate of Return on investment of ?1.35.The budgetary analysis shows that the cost of raising one fish from fingerlings to table size of 1.45kg, average weight was ?312.21 with accrued profit of ?412.79. The average gross profit margin per catfish farmer was ?897,843.6 per annum. The Regression analysis showed that feed and labour costs were the factors influencing gross margin profit negatively, while fish price and fish stocked cost influenced gross margin profit positively. In conclusion, Ministry of Agriculture should educate the farmers on how to reduce the cost of feeding and labour to enhance production and maximise
profit.