New ITC blog offers updated sector-specific market data
Exporters can now access updated information on market trends of products such as cut flowers, fresh fruits and vegetables, and fruit juices on the newly launched Market Insider web platform, enabling them to make better-informed decisions and to become more competitive in global markets.
Market Insider was created in response to the changing information environment, with the goal of providing the latest market and industry trends of specific sectors in an easy to read, interactive blog format. By providing current, forward-looking information from industry experts, the aim is to encourage price competition for all market players, particularly those in developing countries. More than 40% of the beneficiaries of the market information are from sub-Saharan Africa.
The blogging platform introduces a new level of interactivity through its comment feature, which allows clients, such as businesses and trade support institutions (TSIs), to provide feedback to Market Insider and the data it provides using their Facebook, Twitter or LinkedIn accounts.
‘Our hope is that we will be able to reach wider dissemination,’ said Shitaye Lemma, Programme Coordinator of ITC’s Market Insider team, which launched Market Insider. ‘We’re looking forward to the interactive mode of the service to be able to address the needs of the clients. We’ll be on the listening side, and adapting to serve them better.’
While Market Insider is updated regularly with new information as it comes in, bi-weekly reports will also be available in e-mailed PDF formats, and by request, hardcopy versions, to accommodate non-web users. The reports provide sector-specific intelligence focusing on prices, regulatory developments, quality issues, industry news, market characteristics (such as market trends, target markets, and market size and growth) and events calendars.
Market News Service (MNS) was ITC’s first effort in collecting and distributing sector-specific information to entrepreneurs and TSIs in developing countries. Market Insider is the latest development in a series of transformations of the service. MNS was created 35 years ago to provide information about one product (green beans) from one country (Kenya), reaching one destination market (France), using a telex-based reporting service. MNS has since evolved into an e-mail-based service, targeting more sectors, markets and products, resulting in the improved market knowledge and competitiveness of small-scale producers.
In addition, the Market Insider programme offers advisory services, as well as training- and capacity-building support, to TSIs and trade promotion organizations. This will allow them to draw on available information to produce customized Market-Insider bulletins and, as such, provide quality content to Market Insider. Market Insider will also work with TSIs to establish licence agreements to disseminate reports to a wider pool of businesses.
For more information, please contact marketinsider [at] intracen.org.