Like any endeavor it is important that the prospective exporters undertake some research to fully acquaint themselves with the product or service they intend to export.
Agriculture and extractives are possible areas that an exporter could start with or indeed light manufactures, what is important is that sufficient research is conducted on the market opportunity, the availability (source) and exporters access to the identified product, the costing associated with the product (including aggregation, bagging, grading, in-country logistics and shipping) as well as access to finance.
Commodity associations, online trade related resources and government agency information portals can provide useful guidance in this regard.
Understanding the seasonality of your agricultural produce is critical to ensure that financing is secured and available to buy sufficient quantities at the best prices, which usually occur around the harvest season.
Quality requirements are another major consideration when exporting, as successfully receiving payments on your export transactions is contingent on meeting the specific requirements of the market you intend to export to. There are a number of designated agencies responsible for determining, assessing and certifying quality.
It is important that the exporter endeavors to obtain any and all certifications that may be required.
International trade is governed by terms of sale which define the responsibilities of sellers and buyers. These International Commercial Terms or INCOTERMS for short, specify who is responsible for paying for and managing elements of shipment, insurance, documentation, customs clearance, and other logistical activities.
Familiarizing oneself with these terms as they apply to commodity trade ensures that the exporter understands his responsibilities and is able to negotiate the best deals.
Select Products for Export and their Potential Destinations