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Information @ a Glance

General

  • In agriculture, agribusiness is a generic term that refers to the various businesses.
  • Agribusiness is widely used simply as a convenient portmanteau of agriculture and business, referring to the range of activities and disciplines encompassed by modern food production.
  • Agribusiness, as a concept, encompasses the whole range of activities from agro input manufacturing to marketing the processed food for the ultimate consumer.
  • The agribusiness sector is the second most profitable industry after pharmaceuticals.

Business Plans

  • Agribusiness firms will sell the seeds, fertilizers, and pesticides for given crops, then buy those crops from farmers, process them in their own factories, and then sell them to retailers.
  • The process whereby an agricultural company in one country exports its product to another country at a price that is lower than what it actually cost to produce the product is know as agricultural “dumping.”
  • A high level of agribusiness consolidation is one contributing factor to “dumping.”
  • Agribusiness Training provides high quality training in agriculture, horticulture, agrichemicals and forestry.

Report

  • The Agribusiness Conference is filed for 15 CE Credits in more than 45 states.
  • Although agriculture is the key sector of Indian economy and supports nearly 65% of the Country’s population, the farmers are one of the poorest population segments in India.
  • The national Biotechnology Industry Organization (BIO) recognizes only a portion of agribusiness in its bioscience definition, but Ohio’s bioscience community continues to integrate more and more ideas with traditional agricultural opportunities.
  • Agribusiness report ranks Ohio fourth with $56 billion in value adding food processing production behind California, Texas, and Illinois.

Market

  • The structure of the market makes agribusiness firms compete for a position where there can only be few buyers and very few sellers.
  • Market power gives transnational agribusiness the ability to determine what will be grown and how (standards).
  • The Centre for Responsive Politics reports that more than $809 million was spent by agribusiness to lobby Congress during some period.
  • Supply issues must also be considered in the globalization challenge, because the location of agricultural production will determine the location of market opportunities for agribusiness firms.

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