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What is agribusiness & why is it important?

Agribusiness encompasses the economic sectors for farming and farming-related commerce. It involves all the steps for getting agricultural goods to the market, including production, processing, and distribution. The industry is a traditional part of any economy, especially for countries with arable land and excess agricultural products for export.

What is the agribusiness industry?

The agribusiness industry also produces materials grown for non-consumable products. One way to remember the key elements of agribusiness is through the four "F's":

How much money does agribusiness make a year?

The industry directly employs over 430,000 workers in farming, fishing, and forestry occupations as of May 2019. In the same year, the average wage for an employee in the Agriculture, Forestry, Fishing, and Hunting sector was $33,510. In 2018, inward FDI in the U.S. agribusiness sector directly supported 18,100 jobs in the United States.

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