Novus Agro collects daily price information on thirty agricultural commodities across hundred markets in thirty six in Nigeria. Price Information on Novus agro is collected via a network of enumerators situated in major markets in its coverage area. A rigorous verification strategy through back-up in-market enumerators, spot checks and market visits by enumeration managers ensures that our prices are of the highest quality.
This product is beneficial to users ranging from home users (housewives)using it as personal shopping guide, to commodity traders looking for better marketing advantage to make better profit and farmers trying to make a sell decision. The content is delivered over multiple channels to consumers including SMS, online and via email.
Novus Agro provides a unique platform that enables input sellers expand their channels of farm inputs as well as increase its sales volume to farmers across Nigeria. Novus agro sees as a key focus of our business, creating profitable linkages between key actors in the agricultural value chain; farmers, traders, transporters, processors and producers. To this effect, Novus Agro will use its already existing trade facilitation network to aggregate farmer demand for inputs and channel supply, while promoting productivity of NA farmers.
Novus Agro has developed a virtual market place where farmers can transact directly with a processor and realize a better price for their produce, while processors at the same time can reduce the number of intermediaries in their supply chain thereby getting farm produce at more competitive prices.
The system is based on an innovative integration of web and mobile internet, allowing for deployment of first world technology solutions in some of the most remote farming communities in the country.
Novus Agro has market agents physically present in over one hundred markets markets across the federation who assist in gathering and analyzing information relevant to a client’s supply market for the purpose of supporting accurate and confident decision making in procurement purposes.
Farm Gate Prices – Our unique network of market agents enables price collection of various commodities directly from farm gates and local assembly markets. These prices are primarily sourced from farming communities
Transportation Costs – We capture costs attached to the transportation process of commodities from farm gates to major markets, this includes:
Storage Costs – Includes cost of storage in warehouses per bag.
Truck Rental Costs – Cost of renting various trucks of different sizes and distances.
Loading And Off-Loading Costs – Associated cost of loading and offloading commodities at various locations such as markets and warehouses.
State/Local Government Levies – These will include all levies, dues and possible tax on commodity transportation as required by various state and local governments.
This report captures the comprehensive cost implications for transporting commodities from farm gates to intra state markets (small and large markets) as well as inter-state markets.
Key Players In The Value Chain
Novus Agro network is primed to collect vital information on key actors in the determination of commodity price. These key actors include
- Wholesalers – Consists of all bulk buyers in a particular value chain. They include forestallers and distributors.
- Retailers – Handles smaller quantities of commodities and usually sells to the final consumer or markets.
- Trade Associations – Consists of traders in particular value chains that form associations to regulate entry into the trade and ensure price control through collusive price fixing.
Value and Supply Chain Discovery
This is a service designed to give detailed and comprehensive information on a specific commodity. Information will contain all variables that may affect pricing of said commodity such as sourcing, logistics, varieties and packaging. The value chain discovery will give a more in-depth understanding of supply chain relationships along the commodity discovery process. It will show:
- Sourcing (Commercial production areas)
- Varieties (Across production locations)
- Key markets (Where commodity is sold in commercial quantities)
- Logistics (Farm gate to consumer)
- Prices & Price trends across regions
- How the produce reaches the wholesalers and retailers in the markets.
- The structure (economic relationships) between players in the chain.
- How this structure is likely to change over time.
- The key threats to the entire value chain.
- The key determinants of the profits created by the value chain
Novus Agro leverages on its unique networks to provide Industry tailored feasibility studies, market research and investment appraisal, new product development research, market testing and sales promotion.