Agro-based industries depend on the agriculture sector to source their raw materials. They mostly do value addition by processing the raw materials, and then selling them to the market. Some of the common examples of agro-based industries are Food processing, Dairy, Sugar, Tea, Textile, Jute, Spices, Poultry, Vegetable oil, Leather goods, etc. All these industries have their importance and play a direct role in the economy of a country.
The United States of America-based Cargill Inc is the leading agro-based industry in the world by revenue. It reported revenues of US $114,600 million for the fiscal year ending June 2021. Infrastructure, connectivity to the market, electricity supply, raw materials availability, cheap labor, road and rail infrastructure, storage, etc. play a vital role in the success of an agro-based industry in a country.
Moreover, ago-based industries need not be operated on a large scale only, they can even be a small scale industry. Such as a dairy farm in your locality that pasteurizes, packs and sells its branded milk. Or you have a nearby poultry farm that delivers eggs to the wholesalers. Therefore, if you have a keen interest in agriculture, then you can even start your agro-based industry at a low cost.
Do you have any idea, which agri-based industry could scale and make profits? Comment your ideas below!
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