word listings Common Farmfolio and Agribusiness Concepts

Glossary

Offal the inedible parts of a butchered animal removed in dressing it
Option finance term referring to a financial instrument that conveys the right, but not the obligation, to buy or sell another financial instrument or asset at a specific price within a specific period of time. Options are traded either in the over-the-counter market or in the exchange-traded market.
Organic agriculture The term is often used to indicate any farming system that does not use chemical inputs. However, under its official global organisation, "International Federation of Organic Agriculture Movements" (IFOAM), it is a specific certified commercial way of farming with ecological, social and economic objectives. Originating in the 1940s, this movement has grown such that 2 percent of total world farmland being certified organic in 2005.
Organic farming producing foods without the use of laboratory made fertilizers, growth subtances, or pesticides
Organic matter the dead plants, animals and manure converted by earthworms and bacteria into humus
Outgrower scheme a contractual partnership between growers or landholders and a company for the production of commercial agricultural products. Farmers are linked with a large farm or processing plant which supports production planning, input supply, extension advice and transport, usually but not always through contractual agreement. Out-grower partnerships vary considerably in the extent to which inputs, costs, risks and benefits are shared between growers/landholders and companies. Partnerships may be short or long-term (eg. 40 years), and may offer growers only financial benefits or a wider range of benefits. Also, growers may act individually or as a group in partnership with a company, and use private or communal land.
Outputs in agriculture whatever is coming out of a farming system, such as physical outputs like production of crops or animals, or water flows or losses, or more abstract elements such as improved knowledge and skills.