Agribusiness

Agribusiness (pronunciation: /ˈaɡrɪˌbɪznɪs/) is the business of agricultural production. 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.

Etymology

The term "agribusiness" was coined in 1957 by John Davis and Ray Goldberg of Harvard University. It derives from the words "agriculture" and "business" and refers to the various businesses involved in food production, including farming and contract farming, seed supply, agrichemicals, farm machinery, wholesale and distribution, processing, marketing, and retail sales.

Related Terms

Agrichemicals: Chemicals used in agriculture, including pesticides, fertilizers, and other substances used to promote plant growth and protect against pests and diseases.
Breeding: The process of selecting parent plants or animals for the traits that will be passed on to their offspring.
Crop production: The process of growing crops for use as food and fiber.
Farm machinery: Machines and tools used in farming, such as tractors, plows, and harvesters.
Seed supply: The business of producing and selling seeds to farmers and gardeners.
Distribution: The process of getting agricultural products from the farm to the consumer, often involving wholesalers and retailers.
Processing: The transformation of raw agricultural products into food, or of one form of food into other forms.
Marketing: The promotion and selling of products, often involving advertising and market research.
Retail sales: The selling of goods to the public, often in small quantities.