Apr 18, 2024  
2023-2024 WWCC College Catalog 
    
2023-2024 WWCC College Catalog

AGBS 221 - Introduction to Food and Agricultural Markets


Credits: 5
LEC hours per week: 5
Overview of the marketing system for agricultural commodities. Formerly: AGRI 221.
Recommended: One quarter economics.
Course Outcomes:
  • Describe the organization of the food industry and the role of middlemen.
  • Investigate the market structure, characteristics, trends and influences of agricultural production, processing, retailing, and consumption on food marketing.
  • Predict market outcomes using economic principles.
  • Explain food price relationships and distinguish between price cycles and price variations.
  • Describe cost calculations and their uses in measuring efficiencies in the food marketing system.
  • Discuss the relationship between market and bargaining power and the impact on the development of marketing arrangements, such as marketing boards and marketing orders.
  • Classify types of advertising used in food marketing.
  • Compare and contrast transportation and storage options for the food marketing system
  • Describe use of the commodity futures markets in protecting against price risk.
Course Topics:
  1. Components of food marketing
  2. Structure and characteristics of agricultural production
  3. Demographics of food consumption
  4. Structure and characteristics of food processing and manufacturing
  5. Structure and characteristics of food wholesaling and retailing
  6. Role of price in the exchange function
  7. Role of market structure in food markets
  8. Food price cycles and variations
  9. Food marketing costs
  10. Market development and expansion
  11. Market and bargaining power
  12. Risk management and the futures market
  13. Food transportation
  14. Food storage
Course Attribute(s): Transferable Elective