Agribusiness Unit 1
Definition
What is the manufacture and distribution of farm supplies to production agriculturalists, as well as the storage, processing, marketing, transporting, and distribution of agricultural materials and consumer products produced by farmers?
Simplified, it is Business Related to Agriculture
Exports definition
What are Commodities shipped out of the country such as Grains, tobacco, cotton, vegetables
Agribusiness input sector involves
what are resources used in producing farm commodities.
the four components of Agribusiness
What are Selling products to farmers (e.g., seeds, fertilizers, machinery), Providing services to agricultural businesses, Marketing and transportation of agricultural products and, Processing and distribution of farm produce
GDP stands for
What is Gross Domestic Product
Agribusiness output sector involves
What are commodities between production and consumer:
• Activities: Transporting, selling, storing, inspecting
Inputs definition
GDP definition
Agriservices sector involves
What is Researching new production and marketing methods, Protecting food producers and, Providing specialized services to agriculture
Outputs definition
Value added Products definition
This type of Agriservice deals with services at federal, state, and local levels:
• Focus areas: Education, research, communication, regulation
• Examples: USDA, FDA, Department of Commerce
What are PUBLIC agriservices?
Imports definition
What are Agricultural products brought into the U.S. from other countries to meet demand and provide variety?
4 sectors of agribusiness
What are
Agribusiness input sector
Agribusiness output sector
Public agriservices
Private agriservices
This type of Agriservice are not governed by federal, state, or local authorities:
Three main areas: Financial services, trade associations, agricultural cooperatives
Examples: Farm Service Agency, American Seed Trade Association
What are Private agriservices?