What is Agribusiness?

Agriculture is often thought of as…“cows, sows, and plows”“weeds, seeds, and feeds”

BUT agriculture has changed!

Agriculture now includes…

• Production

• Agriscience

• Agribusiness

There are so many agribusiness areas such as distribution, finance, and marketing…

…That umbrella over many different facets including

- feed - fertilizer- Seed - chemical supply- Farm machinery -Food processing

Definition of Agribusiness

“An industry engaged in the production operation of a farm, the manufacture and distribution of farm equipment and supplies, and the processing, storage, and distribution of farm commodities”

According to Merriam-Webster’s Collegiate Dictionary

Farming is a Business

Farming has to consider the following- Interests- Taxes- Repair & replacement of equipment- Fertilizers- Wages- Fuel- Electricity- And many others

Agricultural Economics includes…• Community and rural development• Food safety and nutrition• International trade• Natural resources and environmental economics• Production economics• Risk and uncertainty• Consumer behavior and household economics• Analysis of markets and competition• Agribusiness economics and management

Day 1 Activity: 10 Agricultural Businesses

• Investigate 10 agricultural business– Name– Type– Description of what they do– Mission statement or motto

Day 2 Activity: Investigate a Ag Business

• Choose 1 agribusiness with a partner outside of production agriculture (such as a dairy or crop farm)

• Find the following and be ready to present the information on a poster– Business/industry– Scope– Services– Acres– Requirements– Relations to the government– Five interesting facts