Niche Crops as a Factor in Diversifying Agricultural Business Revenues: Focus on Medicinal Plants
Year: 2025
Type: article
Abstract: The article examines the role of niche crops as a tool for diversifying agricultural business income in the context of current economic and climate challenges. The main attention is focused on substantiating the economic feasibility of developing niche crop production, in particular, the cultivation of medicinal plants, as one of the promising areas for increasing the sustainability and competitiveness of agricultural enterprises. Market trends, the potential of internal and external demand for medicinal raw materials, as well as factors affecting the efficiency of their production are analysed. The key advantages of introducing niche crops into the structure of agricultural production, in particular in the context of adaptation to climate change and reducing the risks associated with traditional farming, are identified. Conclusions are drawn about the feasibility of strategic reorientation of a part of the agricultural business to the cultivation of medicinal plants as a segment with high added value.
Author: Л.О. Бойко
Institution: Kherson State Agrarian and Economic University
Language: English
Domain: Life Sciences
Open Access status: diamond
OpenAlex ID: W4412922921