Organization Name: Fredrikson & Byron, P.A.
What industry/sector do you identify with? Agribusiness, Cooperatives, and Food
Number of employees, member patrons, growers, shareholders etc. in Minnesota: 280+ attorneys in Minnesota
What about your organization or company’s work are you most proud of? We serve as counselors who understand clients’ goals and offer practical advice and strategic insight. With offices in both outstate Minnesota and Minneapolis, we are positioned to recognize the local, statewide, and national trends that can affect Agribusiness-related endeavors. The breadth of our experience allows us to find connections and novel legal solutions for clients in nearly any type of business involving agriculture or adjacent industries.
Please highlight key trends affecting your industry.
The industry is always in a state of change. Suppliers, producers, and other Agribusiness companies must have the adaptability to address trends such as:
Supply chain issues: Avoiding or mitigating disruption from bottlenecks and shifting customs requirements, and increasing efficiency through technology.
Climate-related issues and regulations: Preparing for potential effects and opportunities of climate-related regulations (e.g. emissions standards, sustainability and carbon credits) on operations and profitability at the state, national, and international levels.
International relations and trade regulations: Continued focus on import/export controls and shifting market access based on how different administrations approach partnerships with other countries.
Talk about the key opportunities & challenges facing your business over the next 5 years.
Opportunities in the agriculture sector will be abundant, especially related to the incorporation of new technology and software. These tech-driven opportunities have the potential to increase efficiency and profitability. Remaining adaptable and open to new ways of doing business will be key to maximizing the benefits received from these opportunities.
Challenges related to supply chain issues, staffing problems, and talent drain will persist to varying degrees for some time. Price fluctuations, especially related to supply agreements not being fulfilled or being fulfilled late, will potentially increase for some time until global supply chain matters return to a more stable state.