How to Export Rice
Many countries around the globe basically need rice as part of their food consumption, exporting this very valuable grain is a good target for business. But do you know the steps on how to export rice in the international market?
Exporting rice to other countries follows certain procedures before you can successfully trade your product, here is the information you need.
Be a Rice Exporter
In general, most countries around the globe considered rice as their most staple food particularly in Latin America, large part of Asia, and the West Indies. If you aim to be a rice exporter you will need to learn the international laws and policies regarding rice exportation. But before you trade rice in the international market, you must familiarize first the business and the kind of rice which is in-demand worldwide.
Since there is a big demand for rice, there is a big opportunity to earn large income if you will learn the ropes of exporting rice. Owning a rice farm is not necessarily required to become a rice exporter, you can trade rice by just being a broker instead. According to ers.usda.gov, there are four major types of rice being exported in the global market today such as indica, aromatic (fragrant rice), japonica, and glutinous (sweet rice). Among the four the indica rice is the most in-demand because of its fluffiness when cooked. If you choose indica as your primary product, countries in Latin America, South and Southeast Asia, and some parts of Africa will be your target area to export this type of rice. In addition, there are three forms of rice being traded like rough rice, brown rice, and fully milled rice (commonly exported).
Steps to Export Rice to Other Countries
Exporting rice to different countries or overseas is a sensitive mission and you can’t easily do the business without the proper knowledge about the market. Let us guide with your business with these simple steps:
- Learn the Ropes. Before you start exporting rice to other places try to learn the ropes of the business by trading rice locally. As a rice broker, you will be meeting different people and other traders as well, this is a good chance to mingle to rice traders with a great experience in exporting of rice and seek advice about what you need to become rice exporter like them. You should also attend seminars conducted by the Department of Agriculture concerning rice exportation to get some tips about latest policies about the business.
- Determine your competency in the market. As a rice exporter, you are required to determine your capacity in meeting the demands of your clients by knowing what rice you want to export and how much you can supply them.
- Look for a dependable supplier. Once you have decided of which type of rice you wish to export, locate a dependable supplier that can fulfill your requirements. And also, check with the website of Depart of Agriculture for the right grade of rice for exporting.
- Method of Payment and International Laws. The method of payment is vital to every transaction and the most widely used is Letter of Credit, the website of usarice.com has complete information about this and other export polices as well.
- Transporting the Products. Make it sure that all the documentation are properly prepared and you have met the sanitary requirements asked by the country of destination.