In the world we are now agribusiness is one of the major business youth in Africa engage in and it is the fastest and growing business right from our forefathers. Furthermore, it is the business of agricultural production. The term was coined in 1957 by Goldberg and Davis. It includes agrichemicals, breeding, crop production (farming and contract farming), distribution, farm machinery, processing, and seed supply, as well as marketing and retail sales. All agents of the food and fiber value chain and those institutions that influence it are part of the agribusiness system.
Within the agriculture industry, “agribusiness” is used simply as a portmanteau of agriculture and business, referring to the range of activities and disciplines encompassed by modern food production. There are academic degrees in and departments of agribusiness, agribusiness trade associations, agribusiness publications, and so forth, worldwide.
The UN’s Food and Agriculture Organization (FAO) operates a section devoted to agrobusiness development which seeks to promote food industry growth in developing nations.
In the context of agrobusiness management in academia, each individual element of agriculture production and distribution may be described as agribusinesses. However, the term “agribusiness” most often emphasizes the “interdependence” of these various sectors within the production chain.
Among critics of large-scale, industrialized, vertically integrated food production, the term agribusiness is used negatively, synonymous with corporate farming. As such, it is often contrasted with smaller family-owned farms.
Examples of agribusinesses include seed and agrichemical producers like Dow AgroSciences, DuPont, Monsanto, and Syngenta; AB Agri (part of Associated British Foods) animal feeds, biofuels, and micro-ingredients, ADM, grain transport and processing; John Deere, farm machinery producer; Ocean Spray, farmer’s cooperative; and Purina Farms, agritourism farm.
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. In Europe and in the US, increased research and production of biofuels has been mandated by law.
This article was written by Mohd Bayero Yayandi; connect with him on IG here