Analysis of Cost and Challenges affecting the Profitability of Frozen Fish Enterprise in Sunyani Municipality of Ghana
Keywords:Frozen Fish, Socio-Economic, Sunyani Municipality, Risk Analysis
One of the greatest problems facing the small-scale frozen fish enterprises in Sunyani is their vulnerability to losses due to high operational cost and uncertainty of their income. This study was conducted to investigate the socio-economic analysis of small-scale frozen fish enterprises in the Sunyani Municipality. A descriptive research design was employed where 25 survey questionnaires were administered to frozen fish sellers to achieve the study objectives. The result of the descriptive analysis showed that Scomber japonicas (Saman) had the highest average cost (GH¢ 518.25) among the fish species with Trachurus trachurus (Kpanla) being the least (GH¢ 257.13). It was also known from the study that, the average cost of electricity (GH¢ 119.80), packaging (GH¢ 58.80), and transportation (GH¢ 53.13) per month were the various additional costs to frozen fish business and increases the price of the fish species. Also, the highest total average profit of the fish species was recorded for Oreochromis niloticus (GH¢ 310.77). The least average profit of the fish species was recorded for Pagellus bellotti (Wiriwiriwa)of (GH¢ 51.6636). The perishable nature of the fish was a severe barrier to the frozen fish business. This could be attributed to the poor electricity supply usually experienced in the study area which is highly needed for preserving frozen fish. Frozen fish could only be stored for a few hours in which case must be sold even when the price is not favorable, this account for the severe losses suffered by fish sellers in the study area. There should be a reduction of electricity cost and constant supply of electricity as these key issues influence the cost and pricing of frozen fish in the study area. It is therefore recommended that the regulations be put in place to mitigate erratic power supply.
How to Cite
Copyright (c) 2021 JENRM
This work is licensed under a Creative Commons Attribution 4.0 International License.