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Global agricultural by‐products usually go to waste, especially in developing countries where agricultural products are usually exported as raw products. Such waste streams, once converted to "value‐added" products could be an additional source of revenue while simultaneously having positive impacts on the socio‐economic well‐being of local people. We highlight the utilization of thermochemical techniques to activate and convert agricultural waste streams such as rice and straw husk, coconut fiber, coffee wastes, and okara power wastes commonly found in the world into porous activated carbons and biofuels. Such activated carbons are suitable for various applications in environmental remediation, climate mitigation, energy storage, and conversions such as batteries and supercapacitors, in improving crop productivity and producing useful biofuels. [ABSTRACT FROM AUTHOR]