Part 7/10:
Cost Challenges in Fish Farming
However, fish farming is not immune to rising costs. Raymond highlights that fish feed—comprising soybean, fish meal, vitamins, and fish oil—accounts for 70% of operational expenses. Recent increases in wheat and corn prices, driven by global disruptions from the Ukraine-Russia conflict, have caused feed prices to jump by 15-20%. Additionally, import costs for probiotics and other farm maintenance materials have escalated due to currency fluctuations, further squeezing margins.
Despite technological advancements, fish farmers face significant challenges, including maintaining water quality and managing labor costs, especially as wages rise in response to border reopenings post-pandemic.