Feature of the Month
: Global Agriculture
The global agriculture industry is one of the world’s most important industries, employing over 40 percent of workers worldwide. Although agriculture composes less than 5 percent of the combined global Gross Domestic Product (GDP), it is an extremely important industry for advanced and emerging economies. People will always need something to eat—therefore, the agriculture industry is the backbone for nearly every economy. Agriculture is also a key source of international trade and is becoming a major issue among trade talks due to concerns about global food security and climate change.
Alongside these concerns, high global population growth is one of the biggest challenges for the agriculture industry. This has led to an increased focus on agricultural productivity and sustainable farming practices. Small scale farmers are now realizing the importance of partnering with large international agribusinesses to ensure a sustainable future. For example, local farmers in Uruguay have been able to match rice production levels of the world’s best producers such as Australia, Egypt, and the United States. What is even more surprising is that these small scale farms have been able to do so with sustainable practices, boosting rice production by an astounding 25 percent while using environmentally friendly crop rotations. Research from these local farms is being shared with others and provides opportunities for collaboration across borders to create a sustainable future for all. If other small developing countries and multinational agribusinesses follow suit, there is an opportunity to meet the rising food demand and create economic growth globally through increased agricultural trade.
Featured Resources
Agriculture Industry Profile on globalEDGE
globalEDGE provides a detailed profile on the international agriculture industry offering many useful resources and links. The profile includes background history, trade statistics, agriculture events, and a listing of major agricultural corporations across the world. A summary memo is also provided containing a brief look at the global agriculture industry.
Category: Industries
USDA National Agricultural Library
The National Agricultural Library provides an immense collection of agricultural articles and information. Topics include animals and livestock; education and outreach; food and nutrition; history, art, and biography; laws and regulations; marketing and trade; natural resources and environment; plants and crops; research and technology; and rural and community development.
Category: Agriculture
Featured Academy
Global Agricultural Trade
The Global Agriculture Trade module contains information on the following: the reasons for the growth of trade in agricultural products and why countries want to trade globally rather than protect domestic markets; comparative and competitive advantage; how trade can benefit consumers in all countries; and the reasons behind increased global agricultural trade. An interactive game designed to teach students about global agricultural production is also included.
Category: Agricultural Business
WTO Agreement on Agriculture (AoA)
The WTO Agreement on Agriculture (AoA) module informs one of the following issues: the history of the Agreement on Agriculture; the nine organizing principles of the World Trade Organization (WTO); why the AoA was developed and why it is important to international trade in agricultural products; market access provisions of the AoA; export subsidy provisions of the AoA; domestic support provisions of the AoA; and the importance of agricultural trade to the U.S. and Michigan. Interactive games and a case study of Michigan blueberries and the WTO are also included.
Category: Agricultural Business
globalEDGE Business Review
"An Interview with Kirt Butler"
by Sarah Singer (Volume 7, Number 4, pp. 1-3, 2013)
This is an interview with Dr. Kirt Butler. Dr. Butler specializes in international and corporate finance and global strategy. He joined the MSU faculty in 1985 after completing his doctorate in finance at MSU.
Professor Butler’s research has appeared in a variety of academic and practitioner journals; his academic research has also been profiled in Time and Money magazines, on the CNN and CNBC websites, and elsewhere. The 5th (2012) edition of his textbook best-selling Multinational Finance textbook is available for the Fall 2012 semester.
Professor Butler is also a Sensei of Okinawan Shido-kan (Shorin Ryu) Karate with a rank of eighth degree black belt. He teaches karate in MSU’s Department of Kinesiology – just for fun.
