Agribusiness is a sector of business that deals strictly with agricultural and farming-related endeavors. Despite what many may believe, agribusiness can be a lucrative career, as proven by some of the industry’s top leaders.
Farming and Ranching
Being the most thought of business related to agriculture, farming and ranching go hand in hand. However, to be successful in this business, it is important that the farm or ranch be economically viable and managed under capable and knowledgeable hands. Due to the large-scale competition from other American farmers and imported goods, farmers tend to rely on intentional partnerships and streamlined supply chains to maintain a profitable business. Stefan Soloviev with his operation named Crossroads Agriculture is an industry-leading expert in this area, becoming one of the largest U.S. landowners in the country.
Market Analysis in Agribusiness
When it comes to market analysis within agribusiness, the focus is two-fold. First, analysts are tasked with researching how the agricultural market is working and changing. This includes tracking economic growth worldwide, following import and export practicality, and maintaining an up-to-date knowledge base on how technological advances are affecting the agribusiness market.
Second, analysts are expected to be well-versed in how supply chains are functioning. This means that a knowledgeable analyst will be able to provide a farmer or rancher with the highest profit possible for their product by “working the market” and creating partnerships with other companies or whatever is necessary to create revenue.
Similar to a market analyst, a grain merchandiser must be extremely aware of the grain market to be successful in this position. The merchandiser will research the best times to purchase grain, then hold onto the product or process it in the meantime but will refuse to sell it until there is a lucrative market opportunity. While this career takes time to gain the knowledge and experience needed to be successful, being a grain merchandiser has the potential to be a profitable career path with the average merchandiser making over $75,000.
Agribusiness opens up a plethora of career opportunities centered around agriculture and the business sector behind this massive, economy-dependent venture. With a wide variety of high-paying professions, there is something that will fit every personality while providing a successful lifestyle and income for a family. If you are interested in agriculture, livestock, or the business and marketing sides behind these matters, agribusiness will have an opportunity for you.