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Cost and Profit Analysis of Catfish Farming (From 1,000 Fingerlings)

Quick summary: This post shows a realistic example budget, revenue and profit estimate for raising 1,000 catfish fingerlings to harvest weight. Replace the sample prices with your local costs for precise results.

Although the assumptions are not reflective of today's price September 2025, 1kg of catfish N4000 to N4500. They offer a way to calculate your cost/profit analysis. Keep reading.

Key assumptions (example)

• Stocking: 1,000 fingerlings
• Target harvest size: ~1.0 kg per fish
• Mortality: 10% (harvest ~900 fish)
• Feed Conversion Ratio (FCR): 1.5 (1.5 kg feed per 1 kg fish)
• Production cycle: ~6 months
• Selling price example: ₦1,200 per kg (adjust to your market)

Sample cost breakdown (6-month cycle)

Item	Quantity / Notes	Unit Cost	Total Cost (example)
Fingerlings	1,000	₦150 each	₦150,000
Feed	~1,350 kg (FCR 1.5 + buffer)	₦400 / kg	₦540,000
Labour	Feeding, cleaning, monitoring (6 months)	—	₦50,000
Water / Power	Pumps, electricity, fuel (if needed)	—	₦30,000
Health & Meds	Vaccines, treatments, water conditioners	—	₦20,000
Miscellaneous	Nets, repairs, accessories	—	₦10,000
Depreciation / Fixed cost	Share of pond/tank equipment	—	₦20,000
Total estimated cost			₦820,000

Revenue estimate

With 1,000 fingerlings and an assumed 10% mortality you harvest ≈ 900 fish. If each fish is ~1 kg and you sell at ₦1,200 / kg 

Revenue = 900 kg × ₦1,200 = ₦1,080,000

Profit estimate

Revenue: ₦1,080,000
Costs (example): ₦820,000
Profit (estimate): ₦260,000

This is roughly a 25–30% margin in this example. Your margin will vary depending on feed cost, mortality, selling price and operational efficiency.

Major factors that affect profitability

• Feed cost & FCR: Feed is the single biggest expense. Improving FCR or negotiating lower feed prices raises profits.
• Mortality: Higher mortality (disease, poor water quality) reduces income.
• Market price & timing: Local demand and seasonality affect the price you get.
• Power & water reliability: Frequent outages may require generators, increasing costs.
• Scale: Larger operations lower per-kg costs through economies of scale.

Practical recommendations to improve returns

1. Buy healthy fingerlings: Source disease-free stock from reputable hatcheries.
2. Control feeding: Feed right quantities at correct times — avoid waste and overfeeding.
3. Maintain water quality: Use aeration, monitor dissolved oxygen and remove waste.
4. Disease prevention: Quarantine new stock, maintain good biosecurity.
5. Value addition: Consider smoked catfish for higher prices.

Related resources

• Best Catfish Species for Farming (Clarias, Heterobranchus, Hybrid)
• How to Start a Smoked Catfish Business (Processing & Profit Guide)
• Best Catfish Pond Aerators and Water Quality Tips
• Indoor Catfish Farming — Practical Guide

Break-even check

Total Cost (₦820,000) ÷ Harvest (900 kg) = ≈ ₦911 / kg. Any sale price above this is profit.

Good luck with your catfish project! Keep records — profits improve as you gain experience and scale up.