Agribusiness is concerned with the entire process of agricultural production. There are many sectors of agribusiness which include the input sector, the marketing sector, the production sector, the processing sector, and the support sector.
There are many opportunities in each sector of the agribusiness industry. Ten profitable Agribusiness ideas that will inspire you are examined below.
Production of seeds
Seeds are the fundamental input of cropping. Without seeds, there would be no cultivation and plants would not grow. Agriculture in the modern world is largely diversified. Centuries ago, when a new farmer needed seeds, the farmer would go to another farmer to get seeds for planting.
Things have changed today. Individuals and firms have invested heavily in seeds research. Seeds are now modified to grow better on certain types of soil. This makes the business of seed production a very lucrative one because commercial farmers are interested in healthy seeds that will grow without defects or cause them to incur losses.
If you intend to invest in agribusiness ideas, then you can invest in seeds production because of the high demand of healthy seeds by farmers.
Production of Fertilizer
Urban areas are expanding, and this has consumed portions of land that were cultivated decades ago. The present reality demands that farmers manage land resources effectively. Practices like crop rotation and the use of organic manure are no longer enough to produce food for the increasing global population.
Artificial fertilizers are necessary to provide nutrients that will help plants grow healthily. Investment in the production of fertilizer is very lucrative because farmers no longer rely on natural soil nutrients. Manufacturing fertilizers is a valuable agribusiness idea.
Production of feeds for Livestock
Poultry, rabbits, and other types of livestock require food to grow. Feeds for livestock are specially made to give animals all the necessary nutrients that make them grow and develop properly. For example, feeds for day old chicks are different from feeds for three months old chicks. Feeds for layers are different from feeds for broilers.
Production of feeds for livestock is a profitable agribusiness idea because of the massive investment in livestock. There is a very big market for livestock feeds globally and you can become a seller in the market by investing in the production of feeds for livestock.
Crop production is one of the oldest agribusiness ideas. Crop production includes planting and harvesting of crops. This idea is very popular because it is the actual production of crops.
There are many options in crop cultivation. Those who intend to major in this aspect of agribusiness can cultivate only one type of crop in large hectares of land or they can cultivate more than one type of crop.
Crop cultivation does not just mean food production because cash crops like cotton and rubber are also valuable crops that can be cultivated. Before one invests into this aspect of agribusiness, it is necessary to ascertain the specific kind of crops one should cultivate.
Many people depend on meat for protein. There is a huge demand for meat globally. Livestock farming is concerned with the rearing of livestock to produce meat, eggs, milk or other products useful to man.
The number of livestock needed globally is not yet enough and there is need to produce more to satisfy the increasing global population. If you have plans to invest in the agribusiness industry you can venture into livestock farming. There are lots of options to choose from here. You can rear pigs, rabbits, goats, or any other livestock that fits your cost.
Fish is a good source of protein. The bulk of fish in the market today are from fish farms unlike many years ago when most of the fishes came from the activities of fishermen at streams and rivers.
Fish farming is profitable because of the high demand of fishes for food and for other industrial uses. It is a valuable agribusiness idea to invest in. Fish farmers benefit from both domestic and international trade as fishes are the major export of some countries.
Packaging of Agricultural Products
Agricultural produce does not leave farms directly to the market the way they were harvested. They must be packaged properly for easy transportation and distribution. Packaging is also an aspect of branding. It gives identity to agricultural products. It is through packaging that buyers easily identify the nature of agricultural products.
Packaging also helps farmers to give their products a price. For example, 50 kg of grains are packaged in larger bags than 25 kg of grains. A buyer simply looks at the bags of packaged grains and determines which bag to buy. It makes the entire process swifter. If you want to venture in the agribusiness industry, then you can invest in packaging agricultural products before they are taken to the market.
Storage of farm produce
Storage is a very important aspect of the agribusiness chain. Crops harvested do not reach the market the day they are harvested. They are certain logistics that are involved before agricultural produce get to the market.
Harvested crops are not always sold out completely because of surplus or for the purpose of saving for the future. The storage industry makes it possible to preserve these harvested crops for future purposes. You can invest in storage by providing storage facilities near to farms, markets or seaports where agricultural produce is kept before they are exported.
Transportation of Farm Produce
For the goods produced in farms to get to the buyers, the goods must be transported to markets. Transportation can be domestic or international. Domestic transportation is concerned with delivering agricultural products to markets within a country while international transportation involves delivering agricultural products to foreign markets.
There are many aspects of transportation in agribusiness, and you should research further to determine the aspect you want to invest in.
Software Development for Agricultural Purposes
The importance of technology in the contemporary world cannot be overemphasized. Technology improves the standard and quality of production.
Many individuals have made huge profit by creating technological solutions to solve specific agricultural problems. You can also venture into the agribusiness industry by creating software that solves a problem many farmers face.