Market Intelligence


INTRODUCTION

 

Market Intelligence (MI), can be defined as  “the process of acquiring and analyzing information in order to understand the market (both existing and potential customers); to determine the current and future needs and preferences, attitudes and behavior of the market; and to assess changes in the business environment that may affect the size and nature of the market in the future.” In other words market intelligence is the information, gathered and analyzed specifically for the purpose of accurate and confident decision making for determining market opportunity, market penetration strategy, and market development metrics.

 

NEED

 

There is an urgent need for making available market intelligence services to boost the trade and increase the participation of all importing and exporting organizations or firms in India and also other countries which require support about latest developments in trade. Thus these services are likely to bring more awareness among exporters and importers all over. Market intelligence plays a vital role in marketing of agricultural produce. If the information on commodity prices prevailing in various markets is made available, the farmers would be able to get better price for their produce by moving their produce to the market which pays higher price.

 

OBJECTIVES

  • To provide market and customer orientation
  • Identification of new opportunities
  • To identify new trends in markets and competitors
  • Early warning of competitor moves to enable counter measures
  • Minimizing investment risks, to detect threats and early market trends
  • To provide better customer interaction and to give intensified customer market view
  • Information for better market selection & positioning and to  understand and discover untapped or under-served potential
  • To give quicker, more efficient and cost-effective information in order to avoid duplication of report acquisitions and expensive consultant work

 

It has been observed that despite India being second largest producer of fruits and vegetables in the world, its share in world exports is very low. India is also lacking in appropriate technology and infrastructure which are very essential for further enhancement in exports. Also exporters have to be made aware about quality standards, tariff duties, non-tariff protocols, global export opportunities and trends for strategic and timely entry into global markets.

 

In view of above, Govt. of India Ministry of Agriculture (Trade Division) sanctioned a project to NAFED entitled “Market Intelligence study of some selected crops having export potential” with  a view to have in depth position of export opportunities. The crops selected for the study were mango, grapes, pomegranate, litchi, pineapple, banana and aonla ( Emblica officinalis) among fruits; tomato, green chillies, okra and onion among vegetables; ginger and turmeric among spices; and sesame, soyameal and cotton among commercial crops and products. The main aim of this study was to establish a National Database for various horticultural crops, which have export potential for export to Gulf Cooperation Council (GCC), European Union (EU), Association of South East Asian Nations (ASEAN), Australia , South Korea , China , Japan , etc.

 

In addition to this, the report provides compilation on quality standards, permissible residue limits for various pesticides and fungicides in crops being studied, information on packing requirements, present export trends, competing countries, opportunities existing for exports, present strengths, availability of infrastructure etc. This information will help in promoting export in the countries / markets of GCC, EU, ASEAN, Australia , etc.

 

 

For benefit of users to access information on every aspect of the Market Intelligence of various crops whether it is crop specific or country specific, an URL www.marketagri.com has been created. The website so created is dynamic, so that updation with respect to various crops and countries can be done on regular basis. Further, efforts have been made to make website user friendly with a view to provide users all information i.e. crop or country specific at one place. Besides, appropriate linkages have been provided to facilitate the user to access additional information from Ministry of Commerce and Industry, Govt. of India, Ministry of Agriculture (Department of Agriculture and Cooperation), Govt. of India, Agricultural & Processed Food Products Export Development Authority  (APEDA), National Agricultural Cooperative Marketing Federation of India Ltd

(NAFED), Agricultural Marketing Information Network (AGMARK), Maharashtra State Agricultural Marketing Board (MSAMB), etc.

 

The full report of “Market intelligence study of some selected crops having export potential” in four volumes can be seen in the link below.

Volume I (Main Report)
Volume II (Domestic Market Research)
Volume III (A,B,C,D) International Market Research-Opportunities, ananysis & competitiveness
Volume IV (A,B,C) International Market Research -Trade Scenario & Specifications

  

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