Nothing New for Agribusiness
Innovation in the agribusiness is not a new phenomenon. It has been going on for many years often without many people being aware of it outside that business itself. That continuous innovation has resulted in todays agribusinesses being much more productive than previous generations of agribusinesses.
Some studies put the average agribusinesses ability to produce at 262% better than it was as recently as 1950. This has been achieved with 2% fewer inputs than before where inputs are things like labor, seeds, feed and fertilizer.
To that end it is clear the agribusiness has come a long way from where it started in the 18th century. At that time it was driven by Oxen and horses for power, crude wooden plows and lots of work done by hand to sow seeds and cultivate crops.
If we fast forward through the many innovations, triggered by the industrial revolution (iron ploughs, cotton gin, tractors etc), we eventually arrive to the point where information technology started to be used extensively in the in the late 1980’s and early 1990’s quickly followed by the use of satellites to plan work in the late 1990’s.
To the outside the agribusiness looks like a slow moving industry when it fact it is clear to those closer that it is moving at an astonishing pace!