The International Trade Centre (ITC) has announced the launch of the Market Price Information portal, an online database that will provide access to live updates and prices for more than 100 agricultural products.
Launched with a view to improve transparency in trade and help improve the decision-making processes for micro, small and medium-sized enterprises (MSMEs) to export, the Market Price Information portal will also provide research and up-to-date agricultural commodities news.
ITC executive director, Arancha González said: ”Access to real-time and sector-specific market price information will help strengthen the ability of MSMEs to make decisions and anticipate shifting trends in international markets.
The Market Price Information portal will help them become more competitive, make it easier to connect to global markets, and enable them to grow their businesses.”
Currently based on data provided by Thomson Reuters and the United States Department of Agriculture’s Agricultural Marketing Service, ITC is already working on an expansion of the Market Price Information portal, including the collection and dissemination of domestic price information.
The Market Price Information portal provides MSMEs, farmers, TISIs and policymakers from developing countries with accurate daily and historic market price information for the following sectors: agricultural soft commodities; culinary spices and herbs; dairy/livestock, fish and seafood; fresh fruit and vegetables; forestry, fibre and textiles; grains and pulses; and oilseeds, oils, nuts and fats. – Business Week