What is Agribusiness?

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What is Agribusiness?
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• Agriculture is often thought of as
• cows, sows, and plows
• weeds, seeds, and feeds
• BUT agriculture has changed!

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Agriculture now includes

• Production
• Agriscience
• Agribusiness

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• 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

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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-Websters Collegiate
  Dictionary

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Farming is a Business

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

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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

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Day 1 Activity 10 Agricultural Businesses

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

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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