Entering a foreign market is a big step for a value-added agricultural business. In addition encountering the same issues you have in domestic markets, you will be faced with a host of additional issues. The foreign market is filled with unique problems. Below are examples of issues you will need to deal with.
- Language and translation.
- Currency and exchange rates.
- Economic volatility due to varied monetary and fiscal policies in foreign countries.
- Cultural differences affecting consumer demand and buying habits.
- Unpredictability generated by political whims and instability.
- Tariffs and other trade barriers.
- Distribution systems in the foreign country.
- Questions of who controls off-loading, warehousing and transportation.