Ibadan, July 25, 2012 (NAN) The national secretary of the Catfish Farmers Association of Nigeria (CAFAN), Mr Rotimi Oloye, says the flooding incidents in some parts of the country is taking a toll on fish farms.
Oloye told the News Agency of Nigeria (NAN) in Ibadan that incessant flooding was the major challenge facing fish farmers presently.
"We use water mainly in our business, but now we are having water in excess.
"All rivers are overflowing their banks. In fact, most of our members' investments have been lost to floods. Some people have lost up to N7 million on their farms," he said.
Oloye said waterlogged areas were washed away with all the fishes in the ponds.
He said the present challenge was natural, adding that no insurance company would agree to cover this kind of risk.
The CAFAN chief said the present calamity would seriously affect fish production as supply in the market would be greatly affected.
On the implications of the disaster on the prices of fish, he said there might not be an immediate impact.
He said the market was already flooded with fishes and prices would either go down or remain stable.
"But on the long run, there will be smaller amount of fishes in the market and the market forces will force the prices up due to high demand chasing low supply," Oloye said.
He, however, said such high prices would be of little benefit to farmers because they may not guarantee adequate financial returns to farmers.