HOW TO START AGRICULTURAL COMMODITY EXPORT BUSINESS

Below are the steps you must take in starting agricultural commodity export business:

1. The prospective exporter must incorporate his company and subsequently register with the Nigerian Export Promotion Council (NEPC). There are some special products that still need registration with bodies like: NAFDAC, SON, FIIRO e.t.c.
2. Open a corporate domiciliary account (USD/EURO/POUNDS) with which your company can repatriate export proceed (payments).
3. Gathers information as it concerns the source for the procurement of the commodity intended for export. You should try as much as possible to gather the export market requirement of the commodity for export. Exporter must ensure that the product is available in large quantity such that it would meet the minimum order that could be requested by buyer (importer). At this stage the services of an export management consultant would be both valuable and indispensable because of the pitfalls it would save the new exporter from falling into.
4. Get the buyer of the commodity of your interest. If you are having difficulty with that, you can contact us.
5. Investigate importer’s genuineness. You can learn how to do this from our Online Training Programme.
6. Conclude an export contract with the importer using a secured and confirmed method of payment.
7. Approach your bank and opens NXP for the transaction by collecting form NXP.
8. Source for the commodity you are exporting from the local producing areas.
9. On completion of the local sourcing, your freight forwarder arranges for transport and containerization of goods.
10. Loaded container is dropped at the shipping terminal for subsequent shipment.
11. Upon sailing of carrier vessel, shipping line issues the seller with a debit note. Seller obtains bill of lading from shipping line after payment of charges as indicated in the debit note.
12. Seller deposits shipping documents with the receiving/ collecting bank that subsequently sends them to buyer’s bank for remitting of export proceeds.
Variety of scenario might happen in step 11 and 12, depending on the contract agreement between the buyer and the seller.It is important to supply according to the agreement reached with your buyer. The product must be the correct quantity and quality.

To start this business, you will need guidance in order not to burn your finger. Knowledge is very important in this business and not only capital for the business. You can subscribe to our 2 days online training programme and for those who need mentorship can subscribe to our Export Advisory Service and we will assist you through the full process of exporting from scratch to finish.

We wish you well in your business pursuit!!!

To your success,

Gbeke Faith

Chief Consultant

E-mail:tosfatconcepts@gmail.com

Phone: +2348076000259
+2348038248222

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