Importance of Agriculture; Economic Importance of Agriculture -

Importance of agriculture and economic importance of agriculture and agricultural products. Buy and sell agricultural products and agricultural equipment

Agricultulture ; Farming

Agricultulture ; Farming. Image credit : Wikipedia

What Are The Importance Of Agriculture? What Are The Economic Importance Of Agriculture?

As good as knowing what is agriculture or meaning of agriculture as well as the history of agriculture so also it is good  knowing  some of the general importance of agriculture as well as  knowing some economic importance of agriculture. Wherever and whenever agriculture is mentioned what comes to the layman’s mind is farming. However it should be noted that agriculture goes beyond farming. Although the terms agriculture and farming are synonymous and used interchangeably it is important to know that farming is just an aspect of agriculture. So we can say all farmers are  agriculturists or are into agriculture but not all agriculturists are farmers. Apart from food production which involves the production of agricultural products such as agricultural crops and raising of livestock, however agriculture also involves the processing of agricultural products, packaging of agricultural products, storage of agricultural products, marketing of agricultural products, transportation of agricultural products and the distribution of agricultural products. Agriculture also involve the use of agrochemicals ( such as fertilizers, herbicides, pesticides, etc), agricultural equipment or farm equipment. The knowledge applied in agriculture is derived from agricultural education and agricultural researches. Agriculture has grown beyond just subsistence agriculture or subsistence farming which produces food in small quantities for the family. However, commercial agriculture which involves the production of food and other agro products in large quantities using modern agricultural machinery for agricultural mechanization or  farm machinery for farm mechanization. This entails the  use of sophisticated agricultural equipment or farming equipment.

Without doubt, it is the desire of every country to attain food sufficiency and food security. In a quest for food sufficiency and food security it is now a norm by the government of most countries formulating agricultural policies  and providing agricultural grants or agricultural loans through government agricultural banks or private agricultural financing institutions that finance agriculture to enable farmers have access to agricultural funds for farming so as  to be able to manufacture enough food and other agricultural products for local consumption or for international trade- export of agricultural products or import of agricultural products. Exporters of agricultural products and importers of agricultural products are sometimes given incentives either partial or complete duty-free, excise duty-free or custom duty-free for agricultural trading by the government for  individuals or businesses that either export agricultural products or import agricultural products. In  exporting agricultural products or importing agricultural products certain criteria must be met as well as certain processes must be followed.  The export and import of agricultural products, export and import of agricultural equipment or export and import of agrochemicals is of benefit to the buyers of agricultural products, buyers of agricultural equipment and buyers of agrochemicals as well as the sellers of agricultural products that sell agricultural products, sell agricultural equipment or sell agrochemicals. This of course makes the exportation of agricultural products, exportation of agricultural equipment, exportation of agrochemicals, importation of agricultural products, importation of agricultural equipment and importation of agricultural agrochemicals attainable which are used in determining total agricultural exports and agricultural imports. The exporting and importing of agricultural products can go a long way in building or strengthening bilateral relationships in of countries in terms of agricultural trade.

Agricultural marketing is either done by individuals or the agricultural marketing services is provided by agriculture marketing service providers. Marketing of agricultural products is  an aspect of any agriculture business or agriculture trade be it local agriculture trade or international agricultural trade. In some instances, agriculture finance is made possible through public-private partnership of the government and private organizations that are interested in supporting or investing in agriculture wherever they find viable agricultural  business opportunities or agricultural investment opportunities.

Over the years, several international non-governmental organizations provide grants for agricultural projects either for agricultural researches or agricultural technology development so as to attain sustainable agriculture  geared towards preventing and reducing global food shortage thereby preventing or reducing  hunger worldwide. Any  Agricultural industry when motivated and driven by good policies by the government of any country helps stimulate the development of such country’s agricultural sector which can go a long way in  making agriculture to be a major source of job creation by agriculture employers for providing agriculture jobs for both agricultural job seekers who are searching for agricultural jobs and agricultural services. It should be noted that  the importance of agriculture cuts across crop production and animal husbandry which involves the raising of livestock such as dairy  and dairy products without exemption of poultry and poultry products, fishery and fishery products, forestry and forestry products as well as horticulture and horticultural products.

The importance of  agriculture  is not restricted to only agricultural industries but rather agriculture is also important for nonagricultural industries and agro-allied industries  that either provide services or products for agricultural industries or derive agricultural products or agricultural services from agricultural industries directly or indirectly. This implies that both agricultural sectors, agro-allied sectors and non-agricultural sectors are dependent on each other in one way  or the other which is why  in as much as there are agricultural products, agricultural equipment, agricultural jobs, agricultural services  there are also agro-allied products, agro-allied equipment, agro-allied services, agro-allied jobs and agro-allied services.

The Importance of Agriculture

1. Agriculture is a source of the basic needs of man which are food, shelter and clothing.

2. Agriculture provides raw materials for agricultural industries, agro-allied industries and some non-agricultural industries

3. Drugs or medicines which are used in treating sicknesses and diseases are derived from agriculture.

4. Agriculture is provides job opportunities for job seekers. Thus it is on record that agriculture is an occupation for most working population for their livelihood.

5. Agriculture is a source of income and revenue to farmers, agricultural industries and even the government.

6. Agricultural has many business opportunities and investment opportunities.

7.  Agriculture ensures food security locally or internationally.

8. Agriculture has also made it possible to reduce hunger and malnutrition through food production.

9. Agricultural financing institutions or agricultural nongovernmental organizations provide farmers or agriculturists with agricultural capital for agriculture business startups or agriculture business expansion either as agricultural loans or agricultural grants either by winning agriculture business plan competition or agricultural business plan competition or agricultural proposal as the case may be.

10. Agricultural insurance institutions make it possible for farmers or agriculturists to be protected against risks associated with agribusinesses.

11. Agriculture can improve the standards of living of citizens of a country since it provide many employment opportunities.

12. Agriculture can increase the saving habits and investment habits of farmers and investors respectively.

13. Agriculture contributes to  transport industries since agricultural products, agricultural equipment and agricultural chemicals are transported either through land, air or water.

14. With the right technology and technical know-how agriculture can be a source of alternative energy e.g bio-fuel, etc.

15. Agriculture can reduce poverty when done the right way.

The Economic Importance of Agriculture

1. Agriculture is the economic backbone or contribute to the economy  of some ( if not all ) countries.

2. The foreign exchange obtained from the export of agricultural products or agricultural equipment contribute to the purchasing power of a given country. This helps to reduce countries unfavorable balance of payments as well as saving foreign exchange.

3. Countries with high agricultural technology and expertise earn foreign exchange by rendering agricultural services to countries having less agricultural technology  or agricultural expertise

4. Revenues generated from agriculture can be used in developing other sectors of any country’s economy.

 

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