Happy new month of August

The international trade industry may be highly lucrative for traders who have learnt the ropes and can successfully chart a course that is mostly bound for success. You can trade from Nigeria, Asia, Europe, America, Africa or other parts of the world.

To develop a successful export business, a good understanding of your target market(s) is essential. This involves conducting research on your export destination(s).

A good market research should not be based on facts and figures only, It should also focus on factors that drive the target market(s).

Importance and Advantages

Following the structured export procedure will give you a better understanding of the full export process. Hence, your company will benefit from the right and up-to-date knowledge you receive by following the right procedure. Besides, it leads to:

Minimising your export risks ensuring that exported goods conform to importing country specifications.
Meeting buyer requirements for export by providing evidence of origin and delivery.
Supporting you to formalise your export business
Supporting you in qualifying for export incentives

Quality Competent Authorities

It is important to make use of reliable and verified quality competent authorities (QCAs) as an exporter. QCAs are quality assurance agencies authorized and competent to issue export certificates. Most important advantages of using QCAs include the fact that:

it builds trust towards international buyers
it ensures compliance to international standards (which is needed for market access)
it ensures focus on product improvement and innovation.

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In running an Export business, you need to find a balance between getting paid what you can comfortably accept and not putting you price above what your clients can comfortably afford. When you do this, you’d always find the right market price, and your project numbers would grow a lot faster.

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It is better for Nigeria to Export than Import. If you import more than you export, more money is leaving the country than is coming in through export sales. On the other hand, the more a country exports, the more domestic economic activity is occurring. More exports means more production, jobs and revenue.

Who Is A Commodity Trader?

A commodity trader is an individual or organisation that trades in any type of physical commodity between two different markets either as a broker or the direct seller or buyer. It’s the job of the commodity trader to make the trade happen, as countries mostly do not handle the trades themselves, but rely on local organisations to carry out the trade with businesses in international markets

To guarantee the quality of goods, international buyers and most exporters employ the services of inspection companies, but mostly world-class inspection companies that are known for their quality of service, age in the industry, and consistency in delivering on guaranteeing the quality of goods loaded before it arrives the destination country.
If you want to know which companies you can use to test and guarantee the quality of goods been shipped from a sourcing point to a loading port and eventually to a destination country.

Top tips to understand the market

Gather basic market information, from import regulations to trade statistics. You can make use of several freely available Market Analysis tools.
Narrow the focus of your research to your product or service. This will make the whole process more specific.

BUSINESS POTENTIAL

What is the business potential of agro-export trade? With cashew nut and in specific, the kernel in introspects, cashew kernel export is a promising market. According to recent statistics from NEPC, Germany, Netherlands, United Kingdom, Poland, France, Japan, United Arab Emirates, Canada, Lithuania and Ireland are the top ten markets with the largest untapped potential for Nigeria cashew kernel export. Vietnam is currently the largest export destination for Nigeria cashew kernels with average yearly exports of 3.4milliona dollars. It is also Nigeria’s largest competitor on a global scale. Poland is a small market for Nigeria but France is a new market.

For ginger, untapped markets exist in Netherland, United Kingdom, Pakistan, Japan, Bangladesh, Canada, Malaysia, Germany, UAE and Italy. Estimated untapped potential is largest in the Dutch market with 4.5 million dollars of additional export to be reached up till 2021. The Netherland and UK are very interesting. There is a lot of additional export potential there. Try to access new markets like Pakistan, Japan and Bangladesh. Also, keep trying to expand export in Germany and the UAE.

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Commodity traders are expected to have a great understanding of how to successfully source and deliver the commodities they’re seeking trade finance for.
In some cases, commodity traders are expected to have 30% of the total commodity trade finance they need to execute the purchase and supply of the commodity.

The export business remains one of the most profitable businesses in the world, including Nigeria, with profit margins going anywhere from 30% to in some cases over 100%. With the growing clamour by the Nigerian government for entrepreneurs should go into the export business, the need to effectively educate people on everything they need to know and to show them how to make their first one million Naira from the export business in Nigeria has become very paramount.
This Online course will teach anyone everything they need to know on how to build a successful export business from scratch, present a live case study, and show you how to export lucrative highly-valued commodities profitably from Nigeria. It also has a section that shows the reader how to start out as a broker.

This online course and Export training program is perfect for beginners in the export business in Nigeria, as it will take you from a novice to an export professional, and help you either make money by starting your own export business in Nigeria, or by becoming an export consultant or broker.

The major cash crops include cocoa, oil palm, cotton, groundnuts, ginger and sesame.

Farmland Available in Iseyin, Oyo state

Description: 300 acres of farmland available at finijo village, Iseyin. 12 minutes drive from Iseyin township.

Family agreement after purchased.

Price: 80k per acre.

For enquiry: Call/WhatsApp: 09034636432

To sell a product, you need a market for it. Where is the demand? Is it stable? Is it profitable in short and long term? Are there trade barriers? In export, your market is a country or countries with a demand for your product. So, how does an exporter go about finding this market?

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Exportation is very profitable: While importers lament bitterly due to the embarrassing forex quagmire, exporters are the ones who smile – no, laugh – to the bank. More people are realizing this and the business is booming.

One of the benefit of Exportation is Economic diversification: No nation can grow effectively without export. Export is a trade between countries. It is one of the ways countries grow wealth and one of the cheapest means of FOREX

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According to statistics, the most popular non-oil products, which are exported from Nigeria are cocoa, cassava, rubber, wool, cotton, palm oil, wood logs (Iroko or Mahogany) groundnut oil, cashew, garlic, and other products. Nigeria mainly exports goods to Europe and Asia

It is better for Nigeria to Export than Import. If you import more than you export, more money is leaving the country than is coming in through export sales. On the other hand, the more a country exports, the more domestic economic activity is occurring. More exports means more production, jobs and revenue.

The commodity trading market is a vast industry that has existed throughout history, as nations have always had a constant need to exchange goods and services in order to keep their economies growing. Commodities like oil & gas products, solid minerals & metals, and agricultural products are the basic commodities that drive the market. They’re traded all around the world with businesses in two countries acting as the key catalyst for the trades, while their governments provide the infrastructure needed to make it happen.

Join us in our Export training program to learn the commodity trading market and how best to go about it.

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Legal Issues
When you export it is important to be aware of legal requirements of exports in Nigeria. This is to serve as a guide when planning for export as well as enhance smooth export transactions.

Five tips for exporters
It is wise to engage an experienced trade lawyer or expert in complex situations
Understand the market access conditions for your products
Protect your intellectual property (IP) rights, if you have one
Avoid trading on sanctioned / prohibited products
Check out information on frauds, scams and corrupt practices regularly

Export contract
An export contract is the agreement between an international buyer and seller.The exporter should be aware and attentive to details of the export contract documents agreed by both parties. International contracts can be complex. It is advised that you ask for advice on the legal implications by a professional.

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One of the first questions to ask when starting your agricultural export business is: what should I export? The short answer is, it depends on your interest as the exporter, available startup capital, and availability of the items.

To give you an idea, some of the agro-produce to export include, but not limited, to the following:
Cashew nuts, Ginger, Cocoa (seeds and processed) etc.

Wishes of a great weekend and greater new week ahead.

One important thing to know before you ship any Agro Commodities is that the Chemical Compositions Must Match The Agreed Specifications:
When an agreement for the supply of agricultural produce is effected by an importer and an exporter, a set of quality specifications are usually agreed upon, and depending on what the importer plans to use the goods for, some chemical specifications would be agreed on.

If you’re shipping agricultural products based on an agreed set of chemical compositions, it is important that you ensure the goods you’re shipping matches the specifications, else, you should simply just agree to physical inspection.

Join us to learn all the important things you need to do before shipping any Agro commodity out of the country.