Expanding Horizons: How Duketrah Fisheries is Scaling Catfish Production and Conquering Export Markets

At Duketrah Fisheries, we began last year with a clear vision: to expand our market reach and enhance our catfish production capabilities. By February/March, we had embarked on a strategic initiative to achieve these goals. While our initial plan was to invest in backward integration—specifically, procuring essential equipment for fish feed production—economic challenges such as inflation and other limitations prompted us to pivot our strategy. Instead, we focused on exploring new market opportunities, particularly in the export sector. This shift has proven to be a game-changer for our business, yielding remarkable results.

Key Achievements:

1. Export Market Entry:
   We successfully initiated exploratory ventures into international markets, laying a solid foundation for future export activities. This move has opened doors to new opportunities and positioned Duketrah Fisheries as a player in the global seafood industry.
2. Revenue Growth:
   Our expanded market reach has driven a significant increase in revenue. This growth has allowed us to reinvest in our operations, improve our infrastructure, and create new job opportunities within our community.
3. Enhanced Brand Visibility:
   By increasing our presence in both domestic and international markets, we’ve elevated our brand awareness and reputation. Duketrah Fisheries is now recognized as a trusted name in quality catfish production and distribution.

Challenges and Solutions:

Like any business venture, our journey hasn’t been without its challenges. However, we’ve embraced these obstacles as opportunities to innovate and grow. Here are some of the challenges we’ve faced and how we’re addressing them:

1. Sourcing Customers Abroad:
   Finding customers, stores, and restaurants in international markets can be daunting due to proximity and cultural differences. To overcome this, we’ve leveraged existing contacts and relationships with Nigerians in the Diaspora, who have been instrumental in connecting us with potential buyers.
2. Logistics and Shipping:
   Shipping products internationally is one of the most complex aspects of our export strategy. From handling and packaging to delivery timelines and costs, ensuring our catfish arrives in perfect condition is a top priority. We’ve implemented robust packaging solutions and are working closely with reliable logistics partners to minimize risks.
3. Pricing Strategy:
   Determining the right price for our products in international markets has been a learning curve. We’ve adopted a market entry strategy that prioritizes product acceptance and competitive pricing, ensuring our offerings align with customer expectations.
4. Timely Payments and Trust Issues:
   The negative perception of Nigerian businesses due to fraudulent activities has created trust barriers. To address this, we’ve focused on building transparent and reliable relationships with our clients, ensuring timely deliveries and consistent quality to foster trust.

Looking Ahead:

While we didn’t achieve our initial goal of backward integration, our pivot to exploring export opportunities has been highly rewarding. The growing demand for fish and African foodstuffs, driven by the increasing number of Nigerians relocating abroad, presents a lucrative opportunity for Duketrah Fisheries. Fish, being a non-seasonal commodity consumed daily across demographics, ensures a steady and growing market.

In conclusion, our strategic shift has not only strengthened our business but also positioned us for long-term success in the global market. At Duketrah Fisheries, we remain committed to delivering quality catfish products, creating value for our customers, and contributing to the growth of Nigeria’s aquaculture industry.