Agribusiness is a word used to describe how farming has changed from small, family-run businesses emphasizing land stewardship to a system where vast farms are controlled by distant corporations and operated only for profit.
It is a term used to describe how farming has changed from small, family-run businesses emphasizing land stewardship to a system where vast farms are controlled by distant corporations and absentee landowners and are operated only for profit.
Agribusiness is related to expanding capitalist production relations from industries in urban areas to farms in rural areas. Many conventional farmers have resisted agribusiness because it promotes non-conventional farming methods, which they allege damage the environment. However, the ability of agribusiness to provide inexpensive food has contributed to its unstoppable growth.
Agribusiness is a kind of large-scale capitalism when carried out as a capitalist business venture. It is a company that manufactures equipment, insecticides, and fertilizers and has many traits common to other highly developed industries. These include, for instance, the use of cutting-edge science and technology, mass manufacturing methods, and multiple vertical and horizontal integration of businesses and processes.
As an illustration, consider a corporation that exports fruits, which has long-term agreements with several large farms, plans the production of highly specialized products using computers, and is supplied with inorganic fertilizers and other materials by a company that the food corporation also owns.
The second definition of the phrase
Agribusiness is another term for economic activities directly or closely associated with agriculture, such as manufacturing agricultural producer goods like farm equipment and fertilizers and marketing agricultural products like food and raw materials.