Extra income for Aussie Farmers from GM canola

A new report released by the University of Melbourne shows that the grains industry can produce an additional $157 million annually if genetically modified canola is commercialized in Australia. The report authored by Robert Norton and Rick Roush provides a summary of more than 20 reports on the impact of GM canola in Australia. Studies show that that the great bulk of GM canola is sold at similar prices to conventional varieties in major world markets. GM canola has provided substantial benefits to growers and the environment in Canada, where it has been commercially available since 1996; and have contributed to increase in average yields  by 27%. Over the same period, Australian yields have declined by 10%. In addition, 640 tons less triazine herbicide will be used each year if GM canola is commercialized.

In 2003, the Office of the Gene Technology Regulator approved the release of RoundupReady® and InVigor® canola resistant to the herbicides glyphosate and glufosinate-ammonium, respectively. Following the approval, governments of the canola-producing states imposed moratoria on the cultivation of GM canola.

Read the report at http://www.jcci.unimelb.edu.au/Canola2007.pdf