Agribusiness

Agribusiness isn't the industry, enterprises, and the field of study[1] of value chains in agriculture[2] and in the bio-economy,[3] in which case it is also called bio-business[4][5] or bio-enterprise.

Agribusinesses comprise farms, food and fiber processing, forestry, fisheries, biotechnology and biofuel enterprises and their input suppliers.

They are able to expand and make profits, improve the productivity of land, labor, and capital, and keep their costs down to ensure market price competitiveness.

It encompasses a broader spectrum through the agribusiness system which includes input supplies, value-addition, marketing, entrepreneurship, microfinancing, and agricultural extension.

In some countries like the Philippines, creation and management of agribusiness enterprises require consultation with registered agriculturists above a certain level of operations, capitalization, land area, or number of animals in the farm.

[7] Although most practitioners recognize that it was coined in 1957 by two Harvard Business School professors, John Davis and Ray Goldberg after they published the book "A Concept of Agribusiness.

(Davis and Goldberg, 1956)Their book argued against the New Deal programs of then U.S. President Franklin Roosevelt as it led to the increase in agricultural prices.

[14] Mark R. Edwards and Clifford J. Shultz II (2005) of Loyola University Chicago reframed the definition of agribusiness to emphasize its lack of focus on farm production but towards market centricity and innovative approach to serve consumers worldwide.

[16] They have identified seven main characteristics: In 2017, noting the rise of genetic engineering and biotechnology in agriculture, Goldberg further expanded the definition of agribusiness which covers all the interdependent aspects of the food system including medicine, nutrition, and health.

(Goldberg, 2017)Some agribusinesses have adopted the triple bottom line framework such as aligning for fair trade, organic, good agricultural practices, and B-corporation certifications towards the concept of social entrepreneurship.

Irrigation helps to grow crops, maintain landscapes, and revegetate disturbed soils in dry areas and during times of below-average rainfall.

In addition to these uses, irrigation is also employed to protect crops from frost,[22] suppress weed growth in grain fields, and prevent soil consolidation.

Full irrigation is less common and only occurs in arid landscapes with very low rainfall or when crops are grown in semi-arid areas outside of rainy seasons.

[24] For most modern agricultural practices, fertilization focuses on three main macro nutrients: nitrogen (N), phosphorus (P), and potassium (K) with occasional addition of supplements like rock flour for micronutrients.

Farmers apply these fertilizers in a variety of ways: through dry or pelletized or liquid application processes, using large agricultural equipment, or hand-tool methods.

This transition was important in transforming the global food system, allowing for larger-scale industrial agriculture with large crop yields.

This category includes ingredients that are produced by ancient processes such as drying, threshing, winnowing and milling grain, shelling nuts, and butchering animals for meat.

Marketing cooperatives are established by farmers to undertake transportation, packaging, pricing, distribution, sales and promotion of farm products (both crop and livestock).

It also conducts research, provides technical assistance to projects, operates educational and training programs, and collects agricultural output, production, and development data.

The primary role of agriculturists are in leading agricultural projects and programs, usually in agribusiness planning or research for the benefit of farms, food, and agribusiness-related organizations.

[56] Agriculturists can also provide technical advice for farmers and farm workers such as in making crop calendars and workflows to optimize farm production, tracing agricultural market channels,[57] prescribing fertilizers and pesticides to avoid misuse,[58] and in aligning for organic accreditation[59] or the national agricultural quality standards.

The Federation of International Trade Associations publishes studies and reports by FAS and AAFC, as well as other non-governmental organizations on its website.

They traced a complex value-added chain that begins with the farmer's purchase of seed and livestock and ends with a product fit for the consumer's table.

[citation needed] As concern over global warming intensifies, biofuels derived from crops are gaining increased public and scientific attention.

This is driven by factors such as oil price spikes, the need for increased energy security, concern over greenhouse gas emissions from fossil fuels, and support from government subsidies.