Dimensions and Characteristics of Food and Agribusiness Markets

Rufus Adebisi Oluwafemi ()
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Rufus Adebisi Oluwafemi: University of Abuja

A chapter in Agripreneurship and the Dynamic Agribusiness Value Chain, 2024, pp 181-202 from Springer

Abstract: Abstract In the intricate web of global commerce, few industries wield as much influence as the food and agribusiness sectors. This chapter delves into the multifaceted dimensions and distinctive characteristics that define these markets, illuminating the intricate interplay of forces shaping the production, distribution, and consumption of food products worldwide. Food and agribusiness markets encompass a vast array of stakeholders, from small-scale farmers to multinational corporations, each contributing to the complex ecosystem that sustains the global food supply chain. This sector is driven by the fundamental human need for sustenance, yet its dynamics are shaped by a myriad of factors ranging from environmental conditions and technological advancements to regulatory frameworks and consumer preferences. One of the defining features of food and agribusiness markets is their inherent volatility, influenced by factors such as weather patterns, geopolitical events, and fluctuating commodity prices. This volatility poses unique challenges for market participants, requiring strategic agility and risk management capabilities to navigate uncertain terrain effectively. Food and agribusiness markets are characterized by a range of products, spanning fresh produce, grains, livestock, and processed foods, each subject to distinct supply chain dynamics and market forces. This diversity presents both opportunities and challenges for stakeholders, as they seek to capitalize on emerging trends and meet consumer demands. Food and agribusiness markets also play a pivotal role in shaping social and environmental outcomes. Sustainable agriculture practices, food security initiatives, and ethical sourcing considerations are increasingly influencing market dynamics, reflecting a broader societal shift toward more responsible consumption patterns.

Keywords: Agribusiness; Dynamics; Markets; Food; Supply; Consumer; Pattern (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-7429-6_11

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DOI: 10.1007/978-981-97-7429-6_11

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