The business of farming

Usha Albuquerque

The  recent spate of farmer protests across states to demand loan waivers and better prices for their crops, along with an increase in farmer suicides  is indicative of a larger malaise in agriculture.  Considering the fact that agriculture is still the mainstay of the Indian economy, employing around 60 per cent of the total workforce, India’s farm crisis deserves urgent attention and underscores the importance of the work of agricultural economists. 

Agricultural Economics is an inter-disciplinary field that combines both, micro and macroeconomic principles of economics towards solving problems of the agriculture industry. The field of agricultural economics looks at all elements of food production and applies rational thought and planning as a whole. This includes analysis of production, consumption, and distribution. Agricultural economists examine data to determine patterns and trends in economic activity. They also conduct research to collect data and market samples. An agricultural economist is expected to predict trends in markets for farm products, monitor crops, prices, animal health, equipment, imports and exports, and new methods of production.  They use the predictions obtained from their research to inform, influence, and improve the business decisions of clients and agricultural organisations. 

Agricultural economists often choose an area of expertise, such as crop and livestock sciences, environmental economics, policy analysis, agri-business, food safety, international trade, rural development, or marketing systems. Currently, the scope of the discipline is much broader and also covers rural finance and institutions, food and nutrition economics, and environmental and natural resource economics as well. 

Getting in

The study of Agricultural Economics is normally at post-graduate or doctoral level and requires graduation in economics or a degree in agriculture. The basic eligibility criteria for bachelor's programe in agriculture is a pass in Plus II or equivalent in science subjects (with physics, chemistry, biology or mathematics) with a minimum of 55 per cent marks. Minimum duration is four years. A BSc in Agricultural Economics or Bachelor of Commerce in Agricultural Economics or a related subject are also accepted for entrance into a two-year MSc. course by most agricultural economics colleges. A number of institutes also provide a doctorate ( Ph D.) in agricultural economics, for which a master's degree is needed.

BSc in agricultural economics is offered at: 

• Chandra Shekhar Azad University of Agriculture & Technology, Kanpur
• Maharana Pratap University of Agriculture & Technology, Udaipur
• Indian Agricultural Re-search Institute, New Delhi

Agricultural economics at postgraduate level and doctoral level:

• Indian Agricultural Re-search Institute, New Delhi
• University of Agriculture Sciences, Bangalore 
• University of Horticulture and Forestry, Himachal Pradesh 
• Punjab Agriculture University, Ludhiana 
• Banaras Hindu University, Banaras
• Govind Ballabh Pant College of Agriculture, Pantnagar
• Chaudhary Charan Singh University College of Agriculture, Hisar
• Chandra Shekhar Azad University of Agriculture and Technology, Kanpur
• Chaudhary Sarwan Kumar Agricultural Vishvavidyalaya, Palampur
• Dr Y.S. Parmar University of Horticulture and Forestry, Solan
• Sam Higginbottom Institute of Agriculture Technology and Sciences, Allahabad
• Sardar Vallabh Bhai Patel University of Agriculture and Technology, Meerut
• Tamil Nadu Agricultural University, Coimbatore
• University of Agricultural Sciences, Dharwad
• University of Agricultural Sciences, Bangalore

JOB PROSPECTS

Trained agricultural economists have several options for employment. They can choose to work in the government sector, non-profit organisations, academic institutions and/or research centres, or in the private sector (as farm or agricultural business manager and agricultural consultants). A majority of agricultural scientists work with government in state and central government agriculture departments or with government-funded research organisations, such as the ICAR (Indian Council for Agricultural Research), the  Institute for Horticultural Research,  and others. There is a growing demand for professionals with in-depth knowledge of the marketing, farm management and logistics of the agriculture industry in the food retail and marketing sector. 

Students with a background of Agriculture Economics can also choose to work for lending institutions such as commercial and rural banks, working as credit analysts or agricultural loan officers in approving loans to farmers. 

The Indian Economics Services is another option open to those who want to join government services. The Indian Economic Services exam is conducted by the Union Public Service Commission to recruit officers for the Indian Economic Service (IES). 

Agricultural economists can also work for agricultural service companies, commercial research and development laboratories, seed companies, wholesale distributors, and food products companies. 

A degree in agricultural economics also opens up options to venture into the field of veterinary management and medicine. Besides this, agricultural economics jobs provide ample scope for gainful self employment as independent agricultural consultants and in sale, appraisal and management of farms.

You could also work as a writer for magazines, trade journals or newspapers, and publish articles relating to agricultural research, how the agricultural market works, trends in demand and supply of various agricultural goods, their price behaviour, etc. 

A majority of agricultural economists work in basic or applied research and development. This could involve outdoor work conducting research on farms and rural settings, agricultural research stations, working with government and international development agencies, conducting studies on agricultural production, marketing, finance, water management, industrial and urban water use, environmental impacts, and governance, etc., collecting and analysing agricultural data and statistics to identify trends and make predictions for the agricultural market. The major research institutes recruiting research scientists, as research analysts, research fellows, include: 

• Indian Council of Agricultural Research, New Delhi. 
• National Council of Applied Economic Research, Delhi
• Ministry of Agriculture & Farmers Welfare — New Delhi, Delhi

Other private, multinational and international development organisations taking on agricultural economists include - 

• Indian Agribusiness Systems Limited, New Delhi, Delhi
• The International Food Policy Research Institute (IFPRI)
• The Council on Energy, Environment and Water (one of South Asia's leading not-for-profit policy research institutions).
• Bill & Belinda Gates Foundation India

There is much work on hand in this ever evolving field, so if you have a scientific temper and want a job which is different  - here is an opportunity to put your economics degree to good use!

Career Opportunities

• Agribusiness 
• Agricultural policy
• Rural Development/ Resource Management 
• Financial services 
• Agricultural marketing systems
• Management and financial advising
• Rural and commercial banks 
• Educational institutes and Research organisations
• Consulting firms
• Government departments of agriculture and environment
• Agri-food companies and international aid / development agencies. 
• Teaching at the college or university level

SKILLS REQUIRED
An agricultural economist should have:

• Keen and analytical mind
• Good at mathematics and statistics
• An aptitude for research
• Ability to work as part of a team 
• Positive and optimistic attitude
• Ability to foresee future trends in markets
• Good observation skills, communication skill and organizing skills.
• Computer knowledge is also essential to analyze data. 
• Ability to handle hard work, commitment and a high level of patience

What does an agricultural Economist do?

• Monitors economic changes in agriculture
• Devises methods & procedures for obtaining required data
• Understands various sampling techniques that may be used to conduct different types of surveys
• Creates, as well as uses various mathematical modelling techniques to develop forecasts
• Applies models of economic behaviour to agricultural changes and developments
• Advises agricultural organisations on costs and benefits of options
• Advises government, employers or trade unions on the economic implications of agricultural policy options
• Produces various numerical and non-numerical written reports

The writer is Director, Careers Smart Pvt. Ltd. Email:[email protected]