Best guide to start stockfish business in Nigeria.
Seafood are nutritious food which are known to give nourishment to the body including strong bones and teeth.
They include fish, crayfish, stock dish, prawn, shrimp, and other edible aquatic life.
Just like crayfish, ice-fish and prawn business, stockfish business is a very lucrative business with a huge dividend in return.
Stockfish give a good aroma to food that is why many people use it to prepare different delicacies including pottage.
Many people prefer stockfish to meat because it does not contain fat.
I have noticed that almost everyone doing stockfish business in whatever form are doing well in the business.
Stockfish business creates an avenue for wealth because of the huge profit involved in it.
The beautiful thing about stockfish business is that it is easy to grow. People who are into this business in wholesale form make huge profits. You can start in a small way and grow it bigger.
There are different types stockfish in the market, you can start by finding out the type people demand most in your location.
Also, writing down a business plan about stockfish will help you in organizing your business very well.
Types of Stockfish Sold in Nigeria
Stockfish are supplied in sacks. There are different types of them which are packed in different bags such as:
- Head and ear (Akpama)
- Stockfish head
- Head and bone (Akpama)
- Fins
- Stockfish cod
- Cut-cut.
- Whole
- Cut body parts
- White bone
Stock Price in Nigeria
Stockfish price depend on the sizes and types you want to buy. For example, a bag of Stockfish head with ear can go for 50k, without ear can go for 40k while a bag of cut-cut can be sold for 80k.
Where to Buy Stockfish at Low Prices in Nigeria
As a reseller, Ariaria market in Aba is where you can get cheap stockfish.
There are also many stockfish dealers in Onitsha Relief market where many people from surrounding villages go to trade.
Importation of Stockfish in Nigeria
To import a container of metri ton will cost more than 40 million naira excluding expenses of container.
Norwegian stockfish seems to flood the Nigerian market because many stockfish dealers in Nigeria import from Norway.
Stockfish is imported from different countries of the world such as Norway, Iceland, Arsenal (UK) etc.
Aba is the biggest market for imported stockfish and where wholesalers are concentrated.
Marketing
During market days people come from different villages to buy for retail.
You can supply to village markets, shopping mall, supermarkets, etc.
You can package your stockfish in a thick transparent nylon and staple it to look attractive and for hygiene purpose for sale in different markets and other places like malls, supermarkets, etc.
Amount of money needed to start a stockfish business in Nigeria
Stockfish business does not require much capital to start. The capital depends on the type of stockfish you want to sell. You can start with as low as #5,000 or with million if you want to start it big.
You can quickly expand and grow your stockfish business since the business moves very fast.
You can count and buy from wholesalers if you don’t have enough capital at hand.
Stockfish business is very easy to start. Let’s assume you are starting with head and bone (Akpama) you can be adding different types to it as time goes on until the business expands.
Profitability in stockfish business
There is a high demand of stockfish since many people consume it for different types of food.
Stockfish business is very profitable. It does not take a month to sell off thousands of bags.
Since the prices differ in types and size, it is better to sell the different types of stockfish for a better profit.
Stockfish preservation
- Do not keep them in a damp environment just as in crayfish business.
- They are better kept where sun rays can reach them.
- Stockfish does not go bad no matter how long it stays but you have to carryout the conditions necessary for their preservation.
Challenges in Stockfish Business
Delay in supply is the main challenges in stockfish business. It is sometimes challenging restocking your stockfish quickly after selling off many sacks of stockfish.
Final word
Stockfish business is easy and straight forward. As a food business it is very sustainable.
You can start as an importer and sell thousands of bags every month or you can start as a wholesale dealer, or a retailer. It is a very good and profitable business to engage in.
The Nigerian markets where you can buy stockfish in large quantity are: Onitsha, Aba and Lagos.