The agricultural industry is getting more data-centric and requires precise, more advanced data and technologies than before, despite being familiar with agricultural processes. The agriculture industry is being advanced by various information and advanced communication technologies, such as the Internet of Things (IoT). The rapid emergence of these advanced technologies has restructured almost all other industries, as well as advanced agriculture, which has shifted the industry from a statistical approach to a quantitative one.
The creation of commercialization opportunities for smallholder farmers has taken primacy on the development agenda of many developing countries. Invariably, most of the smallholders are less productive than commercial farmers and continue to lag in commercialization. Apart from the various multifaceted challenges which smallholder farmers face, limited access to extension services stands as the underlying constraint to their sustainability.
Although the benefits of genetically modified (GM) crops have been well documented, how do farmers manage the risk of new technology in the early stages of technology adoption has received less attention. We compare the total factor productivity (TFP) of cotton to other major crops (wheat, rice, and corn) in China between 1990 and 2015, showing that the TFP growth of cotton production is significantly different from all other crops. In particular, the TFP of cotton production increased rapidly in the early 1990s then declined slightly around 2000 and rose again.