Biotech Updates

GM Crops and Impact on Australian Agriculture

April 11, 2008

"GM crops in emerging economies: Impacts on Australian agriculture" , a report prepared by the Australian Bureau of Agricultural and Resource Economics (ABARE) for the Australian Government Department of Agriculture, Fisheries and Forestry in Canberra highlight the following insights:

  • If Australia adopts GM (genetically modified) oilseeds and wheat, there will be a gain to Australia’s export competitiveness and world market shares, leading to higher agricultural exports and economic activity in Australia.
  •  Under the assumption that imports of GM crops are not restricted in foreign markets, the estimated gain to the Australian economy (measured by gross national product) would be around $912 million (in 2007 Australian dollars) by 2018 relative to what would otherwise be the case. 
  •  Under an alternative scenario where it is assumed that the European Union bans imports of GM crops from GM adopting countries, the estimated gain to the Australian economy of adopting GM oilseeds and wheat would reduce to $732 million in 2018, compared with what would otherwise be the case.

Download the report at http://www.abare.gov.au/publications_html/crops/crops_08/gmcrops_precis.pdf