Agribusiness simply
implies a business that involves agricultural production. It includes
agrichemicals, breeding, crop production (subsistent
farming and commercial farming), distribution, farm
machinery, processing, and seed supply, as well as marketing and retail sales.
Every branch of agricultural production from start to finish all contributes to
a functional agribusiness system. It also covers the supply of agricultural
inputs, the production and transformation of agricultural products and their distribution
to final consumers
Agribusiness is characterized by raw materials that are mostly
perishable, variable in quality and not regularly available. The sector is
subject to stringent regulatory controls on consumer safety, product quality
and environmental protection. Traditional production and distribution methods
are being replaced by more closely coordinated and better planned linkages
between agribusiness firms, farmers, retailers and others in the supply chains.
Many tropical countries
have good soil and climatic condition suitable for the cultivation of various
food and cash crops in high quantity but since the oil boom in Nigeria, the
agric sector has been left lagging. The agriculture sector which could be a
main source of revenue generation for the nation has been neglected in the past
years.
The current economic
recession and global devaluation of crude oil is evidence that the dependence
on crude oil would no longer cut it for nations like Nigeria. There are so many
agribusiness options to consider if one is thinking of ways to invest into
agribusiness profitably. Agribusiness management involves the application of
business skills such as marketing, economics, finances, management etc into the
agricultural industry. This makes it obvious that agribusiness goes beyond
farming and harvesting but also, all parameters applicable are to be considered
to ensure that agriculture is done efficiently and profitably.
This is a wakeup call
for everyone looking for an opportunity to earn a living or ways of improving
your productivity and income, that the agricultural sector is a fruitful sector
to consider. Agribusiness has been one
of the main generators of employment and income worldwide.