Actually. No. It Requires 2 if it's of Common (white) Rarity.
It only Requires 1 If it is of a Uncommon Rarity (Green Border) or Above. I've been crafting them for a wile now only using 1 Fish.
As mentioned in another comment, seafood doesn't work. The Dried Fish item group here, though, includes a lot of seafood like dried crawfish which doesn't work in this recipe.