UNDERSTANDING THE NIGERIAN AGRICULTURAL EXPORT MARKET

Many people in Nigeria most especially in food producing States of Nigeria like Benue, Niger, Kebbi etc do not know or understand the Nigerian Export market and as such do not understand how to take advantage of the opportunities available therein. Considering the huge advantages in agriculture in Nigeria that give rise to the cultivation of Cashews, Cocoa, Ginger, Leather, Sesame, yam, rice, beans and many other cash and non-cash crops, it has become pertinent to create an extensive awareness of the opportunities available to Nigerians in the export market so as to position oneself to take advantage of the enormous value chain the agricultural sector have provided, most especially that same is the policy trust of the president Buhari’s administration.  In most cases people are

willing, but the information is almost not available to them or simply not knowing where to access such information.

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

Secondly, 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).

What then are the tips to understand the Export market;

• Gather basic market information regarding import regulations, trade statistics, tariff regimes and much more. Various Market Analysis tools like key expert interview, surveys, or focus group discussion can be handy in this respect.
• Focus your research on a specific product or service.
• Research on your competitor’s market(s). This is very important because it will help you find out what they are doing right or wrong as well as inform your further decision.
• Attend market-specific seminars to gain access to information and networking advantage.
• Seek practical advice from experienced exporters. Drinking from the well of wisdom of experts helps you to escape ignorance and limit your risks.
• Develop direct contacts with potential buyers. You can make use of authentic online directories.
• Understand the market environment to help you in understanding the culture, demography, religion, currency of the prospective country of export. Attending Trade Fairs and visit to Embassies are good sources of information.

Upon taking these practical steps in understanding the tips, it is especially important understanding the research areas. Some of the important areas of market research include; trade statistics and trends, trade policies, regulatory framework, business environment, business culture, distribution channels, logistics, risk assessment, tools for market analysis.

The second part of understanding the export market is knowing and understanding the market and this can be done by using market analysis tool, these tools will enhance understanding of your target market(s). A list of the relevant tools include:

1. a) Product specific market research

Having gathered and analyzed basic market information, you are to narrow your findings to the specific product or service. You can make an offer, send samples to buyers and await feedback.

1. b) International buyer directories

The international Directories are a list of buyer directories that will support you in finding and contacting your potential leads around the world. Databases from different geographical areas around the globe are included. Search by geographical focus, activity, size and / or product. The check list is as follows:

GLOBAL BUYERS ONLINE

Global Buyers Online is one of the reputable trade sites serving as link between exporters and importers by carrying out trade matching services. The platform allows you to search for buyers from 210 countries, Provides you with a facility to search for all buy requirements, Contact the buyers through your inquiry manager, and Search by product and service, dedicated team of professionals who constantly monitor all new

buy requirements on the site and Paid subscription site.

EUROPAGES

Europages is a business directory focused on the European market. Find your buyers, generate business leads or access professionals, the database is freely available, Search by activity, product or service, Customized search by country, company type and size of company, Paid account includes the translation of your content in 15 languages.

PANJIVA

Panjiva is a global trade data company based in the USA. It is a subscription-based website with import and export details on commercial shipments. Limited free search by product name and type of company, detailed trade data for the USA, South America and China, names of the companies by shipment, Search easily and focused by using HS codes.

HOTFROG

Hotfrog is an international directory, it is a commercial web directory providing websites categorized on topic and region. It is located in Australia and maintains directories in 32 countries worldwide that is available for free with Easy-to-use keyword search and Search by location option.

CANADIAN IMPORTERS DATABASE

The Canadian Importers Database include lists of companies importing goods into Canada. Companies are categorized by product, city, and country of origin. It helps to find potential clients in Canada, free company search by HS code, easy company selection on region and city.

You will agree with me that the benefit of understanding the export market viz a viz the benefits of Market Research is a whole pack that cannot be overlooked as same will widen the scope of knowledge of the export market. Most agricultural exports crops like (Dry) Beans, yams, Cashews, Cocoa, Ginger, Leather, Sesame will enable you to identify your most promising market, obtain inputs for your Export Marketing Plan (EMP), Have good understanding of the competitive environment of your target market, minimize risks and maximize prospects.