Agribusiness
Agribusiness refers to the industry, enterprises, and the field of study of value chains in agriculture and the bio-economy. It encompasses a broad spectrum of activities, including input supplies, value-addition, marketing, entrepreneurship, microfinancing, and agricultural extension. Agribusiness is not limited to farming, but also includes the production, processing, and distribution of farm commodities and items made from them.
Key points about agribusiness include:
- It involves all the steps for getting agricultural goods to the market, including production, processing, and distribution.
- It encompasses small and large-scale farming operations, farming equipment, growth aids like fertilizer, and various agricultural disciplines and traditional business skills.
- Agribusiness represents the complete value chain in agriculture, from raw materials and resources necessary to create biological products to distributors and retailers that get products to end consumers.
In summary, agribusiness is a dynamic and systemic endeavor that serves consumers globally and locally through the management of multiple value chains delivering goods and services derived from sustainable orchestration of food, fiber, and natural resources.
