Agribusiness

Not to be confused with Farm or Corporate farming.

Agribusiness is 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. The primary goal of agribusiness is to maximize profit while satisfying the needs of consumers for products related to natural resources such as biotechnology, farms, food, forestry, fisheries, fuel, and fiber.

Studies of business growth and performance in farming have found successful agricultural businesses are cost-efficient internally and operate in favorable economic, political, and physical-organic environments. 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.[6]

Agribusiness is not limited to farming. 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.

  1. ^ Cite error: The named reference :4 was invoked but never defined (see the help page).
  2. ^ Ng, Desmond; Siebert, John W. (2009). "Toward Better Defining the Field of Agribusiness Management" (PDF). International Food and Agribusiness Management Review. 12 (4).
  3. ^ Adamowicz, Mieczysław (2020). "Bioeconomy As a Concept for The Development of Agriculture and Agribusiness". Problems of Agricultural Economics. 365: 135–155. doi:10.30858/zer/131842. ISSN 0044-1600. S2CID 234433508.
  4. ^ Heijman, Wim (2016-06-01). "How big is the bio-business? Notes on measuring the size of the Dutch bio-economy". NJAS: Wageningen Journal of Life Sciences. 77: 5–8. doi:10.1016/j.njas.2016.03.004. ISSN 1573-5214. S2CID 156714858.
  5. ^ "Curriculum|TOKYO UNIVERSITY OF AGRICULTURE". www.nodai.ac.jp. Retrieved 2021-05-02.
  6. ^ "Agricultural businesses: Key influences on growth and performance", in Agricultural Businesses: Their Growth & Performance, ISR/Google Books, 2022. ISBN 9780906321782