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Agricultural Products Broker As A Business Venture

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Agric products Broker
Community terracing, Lushoto, Tanzania Credit: Georgina Smith / CIAT

Agriculture has gone beyond farming; it is now a business that accommodates lots of players, because of the need for food, raw materials for industrial growth and jobs for the growing population of our youths.

Agriculture is now seen in a different ways not just to farm to feed the populace, but as a business that need to be transformed into a mega business that will generate income and employment, as well bring about food security for the nation.

 

Agric products Broker

Agric products broker is one of the opportunities that is available now in Agribusiness though it has been in extent,  few people really have a clear idea about who these brokers, why this work is so prestigious than it is, in reality, most of these Agric products brokers are doing and what they earn.

Let’s shed some light on the mysterious profession of an Agric products broker and the essence of his work.

Agric products broker can be both physical and legal person, he plays the role of intermediary between the seller and the buyers of the agric produce both in the local and international market.

Broker – is experienced exchange a player and a professional financier who may not have the money to pay for products, but receives income in the form of a Commission fee, which is measured in percentage from the amount of transaction.

The main goal of an Agric products broker is to help valuable customers (buyers) find the right product, and to reliable suppliers (farmers) to market their products in certain markets both locally and internationally.ie to facilitate distribution by bringing buyers and sellers together. They often have close relations with particular growers/processors/manufacturers and contract to sell on their behalf in return for a commission. For instance, they will go online to look for demand for one Agric produce or the other and look for the produce local for instance Samarin (Tsamiya in Hausa), a herbal remedy that is used for occasional heartburn and acid stomach reflux.

Samarin mainly consists of sodium bicarbonate and neutralizes a small amount of stomach acid. Some use it to burn fats in the body; it’s now on high demand in the international market as a result of research by brokers on produce in demand both local and international.

The activities of agric products broker have reduced waste in the agricultural sector because of their relationship with farmers and farm products sellers; the communication gap has been bridged and as well has increased our foreign exchange.

Agric products Broker Clients

  • Food processing industries
  • Exporters
  • Distributors
  • Food retail establishments

Requirements

  • For you to make it as an Agric product broker you are required to register a company name with CAC as a limited liability company or business name which make a you a cooperate entity and as well stand you out from others.
  • A website if possible as you will be dealing with the international market for you to make it big. All over the world agric products are in hot demand.
  • A traceable contact address
  • You have to also register with Export promotion council etc.
  • Contact farmers in your area and speak to them about selling their produce. Attend local farmers’ markets in order to make contacts. Ask farmers for lists of products they grow, and schedules for the availability of different varieties.

Products To Broker

Fish(dry or fresh), chicken, goat, cow, palm oil, groundnut, skin , ginger, garlic, maize, millet, ugu , crayfish ,ogbono, egwusi, pepper, and many more.

Financing

You can start with as small as N50,000.00 or N5,000,000.00. As a broker you may not relay have the financial capacity to buy products and sell to the prospective buyer, all you need to do is to create a good relationship with farmers and they will entrust their products to you.

Those people that sell fresh fish or chicken in the market or along the road are typical example of agric products brokers, but they are not formal yet they are making good money from the business, most often they don’t pay farmers for farm produce they supply them, as they sell the money agreed on will be remitted.

You can make as much as N150,000.00 to N250,000.00 or in a month depending or your contact and marketing.

Finally, in today’s agricultural products marketing brokers are kings because they have what the buyers and sellers don’t have which is information, start your own Agric product broking business today by arming yourself with needed information on Nigeria agric products season, locations, and prospective buyers where you can find them both local and international.

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