The Production and Price Impact of Biotech Crops

  • Brookes, Graham
  • Yu, Tun-Hsiang (Edward)
  • Tokgoz, Simla
  • Elobeid, Amani E.
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Publication date
January 2010
Publisher
Iowa State University Digital Repository
Language
English

Abstract

Biotech crops have now been grown commercially on a substantial global scale since 1996. This paper examines the production effects of the technology and impacts on cereal and oilseed markets through the use of agricultural commodity models. It analyses the impacts on global production, consumption, trade and prices in the soybean, canola and corn sectors. The analysis suggests that world prices of corn, soybeans and canola would probably be, respectively, 5.8%, 9.6% and 3.8% higher, on average, than 2007 baseline levels if this technology was no longer available to farmers. Prices of key derivatives of soybeans (meal and oil) would also be between 5% and 9% higher, with rapeseed meal and oil prices being about 4% higher than baseline level...

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