Taking a Close Look at the Latest Agriculture Industry Statistics

If you work in farming, it’s vital to keep up to date with the latest developments in the agriculture industry. Even if you don’t have any direct involvement in the farming industry, it’s very likely to have an impact on your daily life, as the average American spends 8.6% of their disposable income on food.

Agriculture also contributes enormously to the US economy, so these industry statistics are interesting for everyone. Read on to learn more!

The Agriculture Industry and the Economy

The agriculture industry contributed just over $1 trillion to US GDP in 2019, which is a 5.2% share of the total. In reality, its contribution is higher, because many other areas of the economy are dependent on the farming industry. These include food services, food and beverage stores, forestry, fishing, textiles, and food and beverage manufacturing.

Agricultural workers also make up over 10% of US employment. Their primary duties include crop harvesting and looking after livestock. Most work full-time, and it can be a tough job, mainly outdoors in all weathers.

The prospects for workers in this sector are good, however. Experts anticipate that the sector will grow over the next couple of decades, so there will be more opportunities. There are also few barriers to entry, as a formal education is not generally required and on-the-job training is usually available.

Smart Farming

The agriculture industry is changing, as technology continues to develop. Farms can be managed using the most up-to-date information technology developments, to optimize human labor and increase the quality and quantity of outputs.

For example, new farmers are using smart water meters (usually used by governments) to assist in the water control for their crops. Other advancements include soil, light and temperature sensors are being used to improve crop yield. This can optimize crop growth and reduce the manpower required for crop management. GPS, satellite and drone technology has also revolutionized the way farmers can monitor their land.

By using these tools, a farmer can monitor the conditions on their land without having to go and visit the site. They can then make a decision about what action to take, either for the whole farm or just for a single field, or even a single plant.

Precision Farming

This use of technology can be applied to livestock too, including adjusting nutrition to prevent disease and ensure that the whole herd is healthy. This approach, whereby farmers can care for each individual animal or plant in a very precise manner, is known as precision farming.

Experts anticipate that the market value of precision farming is likely to grow from around $5.09 million in 2018 to $9.53 billion in 2023. These technologies, therefore, cannot be ignored by anyone with even a passing interest in the farming world.

New Technologies in Insect Control

Meanwhile, new products are becoming available all the time for pest management. Using an integrated pest management system, such as that offered by Venerate, can help to boost yield and the quality of crops. It can also help to manage resistance to bioinsecticides in insect populations. This form of pest control can also be used just before harvest, without concern for residue on crops.

Staying up to Date

The agriculture industry is fascinating, whether you’re employed within it or interested in its wider economic impact or the technological developments optimizing food production every day.

To keep up to date on the latest technology and business news, don’t hesitate to check out the rest of the blog.