Road Warrior

Enthusiastic About the Future of Agriculture: Top-10 Countdown

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The next decade will see rapid acceleration of three dimensions of technology applied to agriculture. That is, biotechnology, engineering enhancements and the explosion of information management. Agriculture is at the forefront of the biotechnology explosion. New genetics and production methods will accelerate around 2015 to increase yield, reduce water usage and provide genetically specific traits in plants and animals.

Producers in North America and abroad are now deriving the benefits of emerging technologies such as auto steer, robotics, and satellite guidance systems to enhance production and cost efficiency. The key will be for producers in North America to stay ahead of southern hemisphere producers in cost and efficiency with the assistance of the Asian economic block to be globally competitive.

Finally, the information age is now with us. The key is not to drown in the data, but find the valuable components that can be used in strategic and in day-to-day decision-making.

Do you have the resources, i.e. land, labor, management and capital, to position your business to prosper? Next, which dimension of agriculture will provide you the most profit and quality of life?

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What's Road Warrior?

Dave Kohl is an ag economist specializing in business management and ag finance. He can be reached at sullylab@vt.edu.

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