Agribusiness

In this framework of agribusiness management in academia, each individual element of agriculture production and distribution may be described as agribusinesses. However, the term “agribusiness” most often emphasizes the “interdependence” of these various sectors within the production chain. Among critics of large-scale, industrialized, vertically integrated food production, the term agribusiness is used negatively, synonymous with corporate farming. As such, it is often contrasted with smaller family-owned farms.

Agribusiness is the business of agricultural production. The term was coined in 1957 by Goldberg and Davis. 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.

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