Agribusiness

Agribusiness

Agribusiness is a broad concept used to describe corporate agricultural enterprises individually and collectively. Agribusinesses are companies involved in one or more stages of the production of crops and livestock. Examples of agribusiness activities include

  • research and development of new agricultural resources and methods

  • ownership or management of agricultural production facilities such as farmlands and livestock facilities

  • manufacture or distribution of agricultural supplies and equipment such as machinery, feed, and fertilizers

  • processing or distribution of agricultural products

Providing food or fibers is the ultimate product of all agribusiness operations. As such, the economic impact of agribusiness is significant; agribusiness is almost two times as large as the sum of all manufacturing enterprises (measured in total assets); it represents 40 percent of all consumer spending; and it employs 37 percent of the labor force.

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