Agribusiness, << AG ruh `bihz` nihs, >> is the group of industries involved in the production, processing, and distribution of farm products. It includes grocery stores and food distributors as well as businesses that supply farmers with machinery, seeds, fertilizers and other chemicals, credit, and management information.
In most developed countries, agribusiness employs a sizable but shrinking proportion of workers. In the United States, where farmers represent less than 1 percent of the labor force, agribusiness employs about 1 out of every 6 workers. In less developed countries, it accounts for an even greater share of the labor force and the gross domestic product (GDP). GDP is the value of all the goods and services produced in a country during a year.
Providing a secure worldwide food supply ranks as a major challenge facing agribusiness. Companies are also developing systems that track food products from the grower to the consumer to address food safety concerns and improve inventory management. Such tracking could be important in cases of food contamination and required recalls.
