Definition of agribusiness

agribusinessnoun

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/ˈæɡrɪbɪznəs//ˈæɡrɪbɪznəs/

The term "agribusiness" emerged in the mid-20th century as a response to the rapid industrialization of agriculture. It combines the words "agriculture" and "business" to describe the transformation of farming from a traditional, subsistence-based activity to a commercial enterprise characterized by large-scale production, scientific farming techniques, and business acumen. Agribusiness encompasses all the activities involved in producing, processing, distributing, and marketing agricultural products, from farming and ranching to seed and chemical sales, food production and packaging, and retail sales. The use of modern agricultural technology, such as genetically modified crops and industrial farming practices, has intensified the trend towards agribusiness, which has led to both benefits and criticisms, such as increased efficiency, productivity, and profits, but also environmental and social concerns over issues such as land use, water management, working conditions, and food safety.

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farming conducted on a large scale on strictly commercial principles

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the businesses involved in dealing with farm produce and the services needed in farming

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