Large Farmers: A Different Segment
We watched as 2020 unleashed volatility on our food and agribusiness supply chains. In the fresh produce supply chain, disruptions impacted the seed industry, growers, shippers, wholesalers and retailers. While consumer behaviors and preferences also shifted during this time, shoppers continued to place importance on choosing grocery stores based on the availability of fresh foods — especially high-quality fruits and vegetables.
Total factor productivity (TFP) is a measure of economic efficiency and is commonly measured as the ratio of outputs to inputs. The higher the TFP, the more product is created for a given level of inputs. For farmers, this means that the higher their TFP, the higher their yield will be for the same levels of acreage, fertilizers, insecticides, labor, machinery, etc. This article aims to explain changes in total factor productivity growth of the agricultural sector by attributing it to weather, as well as technological change and adaptation.
Sustainability is undeniably one of the most important drivers of the new business landscape created over the last few years. Its importance has been taken to an even higher level during the current pandemic, and it is a key factor in what we imagine the post-COVID world will look like.