Contest Alert: Crop or Livestock Farming? What's your choice?

sahmie (75)Verifiedin Nature & Agriculture • 4 days ago


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Greetings friends! Welcome to my participation this exciting contest hosted by the man himself @lhorgic, where I will be sharing my my views on the different types of market and my preference usings the hints as my guide.

In your opinion, what do you understand by the Local and international market

Local market is our neighborhood's marketplace, i.e., those markets or places of buying and selling around us. This means that local markets are made up of all the businesses, shops, and services that are in our neighborhood such as the local grocery store and the farmer's market where we buy fresh produce. For example, if you buy a loaf of bread from a bakery down the street, that's part of the local market.


_{Image source, Pexels}

On the other hand is the international market, which is a much bigger market place as it involves buying and selling of goods and services between two or more countries, just like Nigeria exporting palm oil to the United States.

Hence, the main differences between these two markets are in the scale and scope of operations as while the local market focuses on the community and smaller transactions, the international market connects different countries and mostly involves larger and more complex deals.

Which do you prefer and why?


_{Image source, Pexels}

Both markets in this case are very important to the community but then, I think my preference is the local market as we can get fresher produce and sometimes products that are unique to our culture and traditions. And we also get to support our local businesses that directly impact our community.

Even as the international market has its own good part especially when it comes to bringing about variety as we get to find products from all over the world that we might not get locally, I still feel that the local market promotes a sense of community and connection that’s really valuable.

Therefore, I prefer local markets for its personal touch and community support, even as I appreciate the diversity the international market brings.

Can you share some of the challenges associated with the other market you didn't choose as your preferred market.

Rules and Regulations:
Different countries have different rules about what can be sold and how much you have to pay in taxes, which can make selling products tricky.

Shipping Issues:
It is not an easy task getting products from one country to another as it can be expensive and takes a long time. Then again, there are times when goods get stuck at customs delaying its delivery.

Money Problems:
The value of money can change a lot, which can make it hard to set prices and make a profit.

Market Restriction
The international market isn’t open to everyone, meaning not everyone can trade in the international market, so small businesses often find it hard to compete because they might not have enough money or the know-how to sell their products in other countries making local markets easier for them to join and grow in.

I want to take this opportunity to invite @tripple-e, @innerman and @ruthjoe.