The food system is about to break. The transition to a personalized and value-added food and ag ecosystem from a commodity-driven supply chain focused on scale is being driven by changing consumer food preferences and eating habits. We must reimagine a food system where technology enables new collaboration, consumer demand drives production, and sustainability shapes investment decisions in order to adapt to this dynamic environment. Smart strategic planning that is based on an unbiased assessment of the current situation, a data-driven analysis of market opportunities, and expert insight into potential future outcomes is necessary.
In order to deliver innovative approaches that help food companies thrive today and create long-term value in a reimagined food system, EY professionals look beyond vertical silos to understand the forces that are reshaping the industry—from ingredients and data to processing and products to behaviors and brands.
Let us learn more about trends and innovation in agricultural practices so that we are on top of the agricultural game.
Top 10 Agribusiness Trends for 2023
1. Internet of Things
In conventional farming, crop field monitoring necessitates a lot of labour, physical equipment, time, and effort. IoT offers an alternative to these established techniques. An Internet of Things (IoT) device has one or more sensors that gather data and deliver accurate information in real-time through mobile applications or other channels. Numerous tasks are carried out by these sensors, including plant and animal tracking, soil temperature and humidity sensing, and more. Additionally, IoT makes it possible for farms to be remotely monitored, which is more convenient for farmers. In addition, new irrigation systems automate water delivery to crops using IoT sensors.
These include, among others, rain sensors, on-site soil moisture sensors, and evapotranspiration sensors. Innovative sensor solutions from startups that integrate IoT and drone technology are being developed.
2. Farming Robotics
A major issue for farmers is a labour shortage, which is exacerbated by extensive field operations. In order to help farmers with fruit picking, harvesting, planting, transplanting, spraying, seeding, and weeding, startups are now producing agricultural robots. Robots are being used by farmers more frequently to automate boring fieldwork. They use intelligent farming equipment, such as fully and partially autonomous tractors, to harvest the crops. Additionally, auto-steer technology is available on tractors for simpler field navigation.
Additionally, automated systems for managing livestock also employ robots. This includes automatic feeders, milking machines, incubators, and weighing scales. Farmers can concentrate more on raising overall productivity thanks to robots because they no longer have to worry about sluggish farm operations. They also stop errors brought on by people.
3. Computerised Intelligence
AI in agriculture gives farmers timely information about the state of their fields, empowering them to take preventative action. AI helps farmers make informed decisions by providing predictive insights for predicting weather data, crop yield, and prices. Chatbots give farmers advice and suggestions for input. Automated anomaly and disease detection in plants and livestock is made possible by AI and ML algorithms. This makes it possible for prompt detection and, if necessary, corrective action. Additionally, ML algorithms are used in biotechnology to make suggestions for gene selection. Additionally, AI offers farmers who are turned down for credit by banks simple access to financing through alternative credit scoring.
Startups are making use of AI in a variety of ways to develop creative solutions that raise the standard of agriculture as a whole. Harvest Quality Vision (HQV), for instance, is a recent AgriTech innovation that scans and determines the quality and quantity of fruits and vegetables.
4. UAVs
It can be difficult to boost farm productivity while reducing expenses. Unmanned aerial vehicles (UAVs), also known as drones, assist farmers in efficiently getting past this inconvenience. Drones gather unprocessed data that can be converted into useful data for farm monitoring. Drones with cameras enable aerial imaging and surveying of both close-by and far-off fields. Precision agriculture is fueled by data that optimizes the application of seeds, water, fertiliser, and pesticides. Drones also make geofencing, grazing monitoring, and livestock tracking easier. They take pictures of fields while flying over them, from straightforward visible-light pictures to multispectral imagery that aids in crop, soil, and field analysis.
5. Precision Farming
In agriculture, sustainability refers to the use of environmentally friendly practices and inputs that have no or very little adverse effect on the environment. Site-specific crop and livestock management, also known as precision agriculture, is an illustration of this. It is a technique whereby farmers increase the quality and productivity of the yield by using precise amounts of input, such as water, pesticides, and fertiliser. The field is divided into various plots, each with a different slope, sunlight exposure, and soil characteristics.
Therefore, applying the same treatment to the entire farm is ineffective and wasteful of time and resources. Many AgriTech startups are working on solutions in precision agriculture to solve this problem and increase profitability while addressing sustainability issues.
6. Applied Biotechnology
Pests and plant diseases cause a significant amount of crop yield to be lost. Despite the fact that agrochemicals are used in fields, they are not the most sustainable option. However, the quality of crops and livestock is improved by the use of biotechnology in agriculture. Plant breeding, hybridization, genetic engineering, and tissue culture are examples of scientific methods that make it easier to identify superior traits in plants.
With increased speed and precision, CRISPR-Cas9 is a genome editing technology that enables high target specificity. Transgenic plants with desired characteristics, such as disease resistance, drought tolerance, pest resistance, and high yield capacity, are produced. This increases the farm's profitability. Additionally, startups use agri-biotech techniques to produce products like biopesticides, bioherbicides, biofertilizers, and bioplastics.
7. Analytics and Big Data
Common farm data is transformed into useful insights by big data and analytics techniques. The foundation for the upcoming farming season is laid by statistics on crop area, production, land use, irrigation, agricultural prices, weather forecasts, and crop diseases. Analytical tools are used to extract information about farm operations from data on weather events, agricultural machinery, water cycles, and the quality and quantity of crops. This makes it possible for growers to spot patterns and connections that might otherwise go undetected. A number of startups are providing farm analytics solutions that help farmers make the most of their field data.
Analytical data, for instance, promotes knowledge of the soil's nutrient levels, acidity, alkalinity, and fertiliser needs and enables data-driven decision-making.
8. Agriculture in a Controlled Environment
The use of conventional farming techniques is constantly hampered by erratic and extreme weather events. Furthermore, it can be extremely difficult to grow crops in densely populated areas, deserts, or other unfavorable environments. Controlled-environment agriculture (CEA) helps to overcome this. Plants are exposed to a predetermined ratio of light, temperature, humidity, and nutrients in CEA. There are various growing environments, including greenhouses, indoor farming, and vertical farming, among others. Techniques like hydroponics and aeroponics, which grow soilless plants in a liquid nutrient medium or steam, are being used more frequently.
Another such method is aquaponics, which simultaneously raises fish and plants. Plants purify the water for the fish, while fish provide nutrients to the plants. CEA techniques increase yield, decrease pests and diseases, and create sustainable farming.
9. Regenerative Farming
Traditional farming methods cause soil to crust over and erode over time. Often, the overgrazing, tilling, and plowing don't give the soil much time to recover before the subsequent growing season. On the other hand, regenerative agriculture prioritizes improving soil biodiversity and topsoil revival while causing little to no soil disturbance. It includes a variety of techniques, including crop rotation, no-till farming, and reduced tillage. For instance, to reestablish soil fertility, cover crops are sown to cover the soil in between cropping seasons. Additionally, through sequestration, regenerative farming enables fields to act as carbon sinks. This has a lower effect on climate change and results in fewer carbon emissions into the atmosphere.
10. Technology for Connectivity
Without connectivity technologies like 5G, LPWAN, rural broadband, or satellite-enabled communication, smart farming is not possible. Robots, sensors, and Internet of Things (IoT) devices can communicate quickly thanks to 5G, which makes it easier for them to be adopted. Farmers can now more accurately and immediately monitor the data and take the necessary action. Real-time field data exchange is made possible by high-speed internet using fibre optic cables, which is essential for increasing accuracy. In the end, IoT and other technologies like connectivity support each other to create connected farms.
Conclusion
The demand for sustainable and effective farming practices, as well as developments in technology and scientific research, all drive ongoing trends and innovations in agricultural practices. For farmers and other stakeholders in the agriculture industry, staying current on news and analysis in this area is essential.
Sustainable agriculture, which includes techniques like organic farming, precision agriculture, and regenerative farming, has received more attention in recent years. These methods prioritize preserving biodiversity, soil health, and natural resources while minimising the negative effects of agriculture on the environment.
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