Agribusiness Disruptions Pt 2
Some believe consolidation and growing, whether you’re a farmer, processor, or retailer, is the key to keeping you pertinent in the market.
David Parker, Executive Vice President at FLM Harvest, says there is a solution …
PARKER … “The solution is two things: one, if you want to continue farming, I believe you have to have two things. You have to have a succession plan, an absolute plan. Who’s going to continue this operation? And, two, I believe you have to intentionally have a growth plan so that you really do enhance your relevance in the market. It is just too costly and too hard to not do that.”
Beyond the size of your operation and who will one day carry on your agribusiness, Parker says embrace our high-tech future …
PARKER … “And, the other piece of this whole issue is technology. It does appear that we’re going to start getting, especially in cropping, we’re going to get as serious about what’s under the soil or on the soil as we are about what’s above it. So, microbial, I think, will be a big play. I think also, you’re going to have, you know, people thinking hard about this whole issue of carbon and carbon sequestration. I think you’re going to see more folks with a bigger emphasis on that as we get more and more serious about the environment, which we should.”
Parker says organizations need to have a mindset and business strategy that allows responsiveness and agility to shift operations and rethink where their profit margins come from.