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AGB QUIZ #2
Terms in this set (46)
Three primary categories of inputs
manufacturing, service, distribution
True/false: Input costs have risen much faster than agricultural prices.
Some global manufacturing input brands include:
John Deere, Monsanto, Syngenta, Cargill
Why did Germany ban Roundup?
Is farm debt nearly $300 billion?
No it is $250 billion.
True/false: Farm credit services and Wells Fargo are a major Ag credit providers
What kind of company is Hertz Farm Management, INC?
What sort of business does the USDA organic or USDA grade perform?
Grading and Inspection
What are the different ways of getting manufactured inputs to farms or ranches?
Cooperatives for supply inputs, Dealer networks for farm equipment, seed and fertilizer representatives.
The path that the raw Ag product takes from the farm to the final consumer.
Describe the flow of raw products to the consumer
Farm to Harvest to Transportation to processing or packing/cooling to prices(sale) to distribution to wholesale to retail or food service.
How is agricultural transportation measured?
True/ false: Agriculture is a major user of US transportation system.
In 2012, what percent of commodity shipments were agricultural products?
What is the cheapest form of transportation for ag products?
Barge (.72 cents/ton-mile)
What other forms of transportation cost more than barge?
Rail (2.7 cents/ton-mile), Truck (26.61 cents), Air (Dollars MOST EXPENSIVE).
Barge- very cheap, very slow
Rail- lower cost than truck, less flexible, more time
Truck- expensive, fast, flexible.
Air- very fast, but very expensive.
Other types of transportation
Cargo ship via ocean, piggyback- truck trailers moved by rail cars for cheaper distribution.
What percent of ag exports happen via cargo ship?
Packing and Cooling (fresh market) facts
first stop after harvest,
Food processing definition
Take raw ag products and change their form for a wide variety of uses.
Typically adds shelf life.
How many food processing plants are their in the US?
What percent of manufacturing employees are in food processing?
Types of food retailing stores
supermarket, superstore, warehouse club, super center.
How many items and space does a supermarket hold?
15,000 items, 10-25,000 square feet.
How many items and space does a superstore hold?
25,000 items, 40,000 sq. feet
What type of store is a warehouse club?
How much space does a super center such as Walmart or Target take up?
170,000 sq ft
What percent are the grocery profit margins?
1-3% very low
What percent of the top 4 grocery firms sell in groceries in 1992 compared to 2016?
17% to 42%
What percent of top 20 grocery firms sell in groceries in 1992 compared to 2016?
39% to 67%
True or false: grocery prices have slightly dropped this year
False: slightly increased by 1%
What comprises the largest portion of the food marketing bill?
How much did traditional restraurants sell in 2017?
How much did fast food sell in 2017?
Types of food wholesaling
1. merchant wholesalers
2. manufacturers sales offices and branches
3. wholesale agent or broker
Company owns more than 1 segment of food sector
ex: company may produce, process, and distribute a food product.
getting into different types of markets at the same level of marketing channel.
Benefits of International trade
1. Diversification across countries, reduce risk.
2. Expand demand
3. Expand product life cycle
4. Adapting culture/technology
5. Global brand recognition
6. Builds relationships between countries
7. Access to lower cost raw materials and labor.
In 2019, the US is forecasted to export and import a value of how much ag products?
Export: $137 billion
Import: $129 billion (record)
Is America in a trade deficit or surplus?
Challenges of international trade
Cultural differences, Accounting differences, management challenges, exchange rate fluctuation, international law/property rights, sanitary issues.
How much has China offered to buy of US ag products?
Purpose of the World Trade Organization (WTO)
stronger trade rules and enforcement, reducing trade barriers.
How many countries is in the WTO?
When did WTO begin?
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