Study Shows Farm Income and Production Impacts of GM Crop Technology from 1996 to 2016
GM crops commercialization has occurred at a rapid rate since the mid 1990s,
with important changes in both the overall level of adoption and impact in
2016. This is according to the research paper on farm income and production
impacts of using GM crop technology in 1996-2016 authored by PG Economics'
Graham Brookes and Peter Barfoot. The annual updated analysis estimates the
value of using GM technology in agriculture at the farm level, including
impacts on yields, key variable costs of production, direct farm (gross)
income, and impacts on the production base of the four main crops of
soybeans, corn, Cotton, and canola.
The paper highlights that there continues to be very significant net
economic benefits at the farm level amounting to $18.2 billion in 2016 and
$186.1 billion from 1996 to 2016. Majority of the gains (52%) have been
received by farmers in the developing countries. Around 65% of the gains
were derived from yield and production gains, while the remaining 35% come
from cost savings. It was also mentioned that the technology has also made
important contributions to increasing global production levels of the four
main crops. The technology added 213 million tons of soybeans and 405
million tons of maize to the global production since the introduction of the
technology in 1996.