Difference between agricultural product and industrial product
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Agricultural and industrial products differ in several key ways: 1. Agricultural products are highly perishable and their production depends on seasons, whereas most manufactured products are non-perishable with constant year-round supply. 2. Farm products are bulkier and more difficult to store and transport compared to manufactured goods, which have a more consistent quality and supply. 3. Agricultural output varies in quality and is scattered and irregular, making supply estimation challenging, while industrial production has more uniform quality and supply.
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Difference between agricultural product and industrial product
- 1. Submitted To :- Dr.Nirmal kumar Dr. Rajkumar Kashyap Submitted by :- Shubham Garg (2017A109BIV) Difference Between Agricultural & Industrial Products
- 2. Sr.No. Content 1. Perishability 2. Dependency on season 3. Bulkiness 4. Variation in quality 5. Irrigular supply 6. Scattered production 7. Processing INDEX
- 3. 1. Perishability • Most of farm products are perishable in nature ;their perishability varies from few hours to few months but most of the manufactured products are non- perishable. • Perishability make it almost impossible for producer to fix the reserve price for their farm grown products. Non perishable Perishable
- 4. 2. Seasonality of Production • Farm products are produced in particular season; they can’t be produced throughout the year ;prices falls in harvesting season. • But the supply of manufactured products can be adjusted or made uniform throughout the year,therefore prices remain almost constant.
- 5. 3. Bulkiness of Products • Farm products are bulky in nature it makes their storage and transport difficult & expensive.It also restrict location of production to somewhere near to consumption point. • Where as manufactured products are less bulky, their volume/price ratio is low as compare to agricultural products.
- 6. 4. Variations of quality in products • There is large variation in quality of agricultural products,it makes their grading and standardization difficult and enhance their cost. • There is no such problem in manufactured goods as they are products of uniform quality.
- 7. 5. Irrigular supply of agricultural products • The supply of agricultural products is uncertain and irrigular because of dependence of agricultural production on natural conditions.With varying supply, the demand remaining almost constant,so the prices fluctuate. • Supply of manufacutred good is almost constant, so proce fluctuation is very less
- 8. 6. Scattered production • Farm products are produced throughout country and most of producers are of small size. It makes estimation of supply difficult and creates problem on marketing. • While manufacturing unit are of large size with a fixed supply with a marketing plan.
- 9. 7. Processing • Most of farm products have to be processed before their consumption by ultimate comsumers.Processing increase price spread of agricultural commodities.Processing firms enjoy advantage of monosony,oligospony or duopsony in market. • While manufactured products donot need processing so advantage is directly taken by producers
- 10. Thank You