Report Shows that Biotech Soybean and Maize Can Generate US$150 million in BoliviaMarch 8, 2017
The adoption of biotech soybean and maize in Bolivia can generate US$150,000 of additional income for the country, according to the report released by the Association of Producers of Oilseeds and Wheat (Anapo), the Bolivian Institute of Foreign Trade (IBCE), and the Agricultural Chamber of the East (CAO).
The report titled Socioeconomic Impact and Environment in Bolivia from Genetically Improved Soy and Maize, was based on the 10-year experience and research on the use of glyphosate resistant soybean which was the first biotech crop adopted in Bolivia in 2005. This biotech crop helped the country to accumulate US$177 million savings from 2005-2015. Biotech maize production in the last four seasons was also considered and compared to the production of Paraguay.
According to IBCE general manager, Gary Rodriguez, the biotech soybean adoption would help reduce the use of insecticides and save US$66 million per year, in addition to the increase of 200,000 tons in production which translates to US$50 million profit per year. On the other hand, the biotech corn adoption would help reduce pesticide use and additional of 87,000 tons in production leading to income of US$11 million. There will also be 7,000 tons of reduction in carbon dioxide emissions and 120 million liters of water savings.
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