15 New Innovative Agricultural Business Ideas

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In this article, we discuss the 15 new innovative agricultural business ideas. If you want to read about some more innovative agricultural business ideas, go directly to 5 New Innovative Agricultural Business Ideas

Agriculture is one of the oldest businesses in the world and historians actually use the business and the innovations within it to map out the history of the world. Numerous inventions in the field of agriculture have enabled humanity to make giant leaps in their quality of life. In the present tech-focused world, big companies like Nutrien Ltd. (NYSE:NTR), Corteva, Inc. (NYSE:CTVA), and Bunge Limited (NYSE:BG) are all working towards scaling and deploying some of the newest and most innovative ideas in the business. These include disruptive cultivation, distribution, and processing technology. 

The agriculture business is thriving, providing these big firms with the research and development funding necessary to explore innovative ideas. According to a report by the Organization for Economic Co-operation and Development (OECD), global food consumption is expected to increase by nearly 1.3% per year in the next ten years. This increase in demand, as well as inflation - the OECD estimates that for every 1% increase in fertilizer prices, agricultural commodity prices would increase by 0.2% - and increases in energy, seeds, labor and machinery prices, the sector looks set to be one of the top performers in the world economy. 

Farmers across the globe have been focusing on production instead of land-use, as tech-enabled precision agricultural techniques become more popular. The OECD claims that yield improvements will command a nearly 80% increase in global crop production growth in the coming decade, with cropland expansion only accounting for around 15% during this time. As such, it is essential for businesses to focus on improving yield and focusing on tech-based farm management solutions. Some of the newest and most innovative agricultural business ideas are discussed below. 

One of these innovative ideas is investments in climate-smart and carbon neutral production processes and technologies. Latest research suggests that greenhouse gas emissions from agriculture will increase by more than 7.5% in the next ten years. Although this number is lower than the nearly 13% increase in output, climate bodies have stressed the need for effectively using agriculture in climate mitigation. In addition, investors could look towards sponsoring advances in herd management and higher feed intensity, since most of the share in the 1.3% growth in livestock and fish production over the next year will come as a direct result of efficient management and feed techniques.