By Emma Sturgis
The agricultural sector is one of the biggest industries in the world. Reports show that agricultural commodities are the biggest classification of commodities traded internationally. There are different classifications of agricultural commodities.
Classification Of Agricultural Commodities
- Soft commodities: they include commodities such as cocoa, sugar, and coffee.
- Dairy commodities: dairy commodities are very popular in the market. They include; milk, cheese, butter, and eggs.
- Lumber commodities: lumber includes wood. This commodity is available on the trading market internationally.
- Meat commodities: these are products that come from animals, in the form of different cuts of meat. This commodity is very popular nationwide as a main staple of protein.
- Grain commodities: this agricultural commodities includes rice, wheat, corn, oats, and barley. Corn is a main commodity nationwide and is in very high demand.
Tips On How To Break Into The Agricultural Commodity Business
The agricultural industry is considered one of the most important industries in the U.S. More than 24 million Americans work in this industry.
There are certain steps an individual can put in place to break into this market:
- You need insight before you can confidently make any business decisions. Before venturing into any business, gaining insight on that particular industry is advisable. The best way to gain insight into the agricultural industry is by working in this sector. Rushing into business is ill-advised and may lead to failure. Therefore, take your time and learn everything you can about agricultural commodities and their trade value.
- Draw a business plan. A business plan helps you not to divert from your plans. Having a readymade business plan will help you make a pitch to investors or clients in case a chance arises.
- Interact with people in the agricultural business. There is a common saying that “no man is an island” to make it in business, you have to work on your social skills. You will need people advising you regarding these agricultural commodities. Remember, unlike manufactured goods, most agricultural commodities are perishable. Therefore you need advice on how to preserve them and the best ways to run your business.
Transport Companies For Your Agribusiness
One of the things to consider as you start an agriculture business is the fact that you may not have a permanent location for a while. AS your business grows and fluctuates, you may have to relocate to meet the demands of your growing business. If this is the case, you will have to relocate everything, and it’s important you find professionals that can handle commodity transportation.
The agricultural business is booming. Technology is playing a major role in the advancement of the industry. Therefore, starting a business in this industry today may not require as much effort as it did in the past. However, that doesn’t mean you can just rush into anything. Make sure you do your research and adequately prepare yourself before breaking into the industry.
Emma Sturgis is a freelance writer currently living in Boston, MA. She writes most often on education and business. For help moving commodities, Emma suggests Bekins Van Lines Inc. To see more from Emma, say hi on Twitter @EmmaSturgis2.