Understanding the intricacies of commodity markets, risk management strategies, and long-term foresight is important. In this episode, Khanimamba Baloyi, commodity markets and foresight analyst at the Bureau for Food and Agricultural Policy (BFAP), offers insights for new-era farmers on navigating the agricultural industry.
“I’ve been working very much in the commodity markets and foresight division. So, we do everything from analysing demand in different industries, demand and supply factors, to what is affecting prices,” Baloyi explains.
In the episode, she unpacks market trends that can help you make informed decisions. She discusses the demand for high-value products and compliance requirements.
By understanding and adhering to these standards, farmers can unlock lucrative export opportunities and elevate the value of their produce in the global market.
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In addressing the volatility inherent in agricultural markets, Baloyi advocates for diversification as a fundamental risk management strategy. By cultivating a diverse portfolio of crops and markets, farmers can protect their livelihoods against market fluctuations and capitalise on emerging opportunities.
“The best risk management strategy would be diversification of your produce and market,” explains Baloyi.
In this episode, Baloyi also discusses:
- The importance of compliance and traceability;
- Importance of agricultural policies;
- And the importance of utilising resources.
Want to know more? Listen to the full episode of Farmer’s Inside Track.
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Option 3: Click here to listen on Google Podcast.
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