THE IMPORTANCE OF MARKETING INFORMATION TO FARMERS

 

Market information is essential not only for the formulation of a proper pricing policy and its successful implementation at a macro-level, but also for farmers to aid them in improving their marketing performance.

Accurate, adequate and timely information on all aspects of the crops traded is essential to operate efficiently. This information is important to you the farmers as it will assist you in planning production and harvesting dates, and also give guidance on time, place and price at which to sell your produce. It will assist traders and buyers to source their supply at reasonable costs which should yield the best returns.

Consumers can benefit from such information by the greater competition generated among the retailers and by a greater awareness of price conditions. The type of information needed by all persons include market prices obtained at farm gate, wholesale and retail points. Export and import market prices are also important.

Trading volumes are an important aspect of Market Information Systems as they are used to determine market prices through the demand versus supply equilibrium. The publication of weekly information on price and volume of produce is useful for a continual assessment of market strategies, and this cumulative information on a monthly and annual basis can give good indications of the performance of the produce over a period of time.
Such information is being provided by RADA and Ministry of Agriculture &Mining and therefore should be made use of by all farmers and traders.