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agribusiness in an emerging economy

AGRIBUSINESS IN AN EMERGING ECONOMY

In the early 19th century, agriculture was a self-contained industry. The typical farm family produced its own food, fuel, shelter, draft animals, feed, tools, implements, and even clothing. Nothing like agribusiness was known back then.

Only a few necessities had to be bartered for or purchased off the farm.

The farm family performed virtually all operations pertaining to the production, processing, storage, and distribution of farm commodities.

In the ensuing years, however, agriculture evolved from self-sufficiency to intricate interdependence with other segments of the economy.

Particularly those related to the manufacture of production supplies and the processing and distribution of food and fiber products over the years.

The agribusiness approach is a method of examining farming problems in a new and more comprehensive setting.

One benefit from this approach particularly has been the release of workers-farm-manpower-from agriculture for employment in new non-farm occupations.

This has resulted in tremendous economic growth and development as well as an improved standard of living.

The agriculture sector is fundamental to the economy of developing countries.

WHAT IS AGRIBUSINESS?

Agribusiness is the sum total of hundreds of trade association, commodity organizations, farm organizations, research bodies, as well as conference bodies, each concentrating on its own interest.

The government plays a major role in agribusiness to the degree that it is involved in research, the regulation of food and fiber operations, and equally important in the ownership and trading of farm commodities.

The term agribusiness refers to the economic activities derived from or connected to farm products.

In other words, crop production, crop processing, transportation and distribution

WHY AGRIBUSINESS?

Agribusiness is the basis of a nation’s growth and development. Agriculture and its entire economic, social and also demographic derivative is a sector that has an impact all over the world.

agribusiness in nigeria

Agriculture is not only one of the most effective strategies to improve food security and promote sustainability, it is also essential to many countries’ economic development.

Financing agribusiness can increase the added value of raw materials, strengthening local rural economies, food security and nutrition, and further improving the quality of life in many homes at risk of exclusion and vulnerability.

OPPORTUNITIES IN AGRIBUSINESS

The evolution from agriculture to agribusiness has brought with it numerous benefits.

These include:

  • Reduced drudgery for laborers.
  • The release of workers for non-agricultural endeavors.
  • A better quality of food and fibers.
  • A greater variety of products.
  • Improved nutrition.
  • Increased mobility of people
  • The release of farm manpower and the creation of new.

Off-the-farm-jobs have been a basis for the country’s economic growth and development.

In addition,the key to this growth and development has been increased worker productivity, which in turn spurs creativity, new products and wealth.

This translates into risk capital, new factories, new jobs, and also increased consumer purchasing power.

Furthermore, agriculture is the economic sector that employs the most people in the world, and the main source of income for many people living in poverty.

There’s more to a career in agriculture than just being a farmer (although, of course, that is also a very viable career option for those looking to get into the field).

So, if you are looking to work in agriculture, but don’t know what careers are available, look no further as we explore the job opportunities available in this field:

  • Agricultural engineer
  • Agricultural economist
  • Farm manager
  • Soil and plant scientist
  • Conservation planner
  • Biochemist
  • Bioinformatics scientist
  • Agronomy sales manager
  • Environmental engineer
  • Food scientist
  • Animal geneticist
  • Agricultural operations manager
  • Commercial horticulturalist
  • Agricultural sales person

In addition, agribusiness is a sector that has an impact on practically all the Sustainable Development Goals (SDGs).

1 thought on “AGRIBUSINESS IN AN EMERGING ECONOMY”

  1. An educative write-up.looking to explore commercial horticulture but don’t quite know how to get started.

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