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Crop Biotech Update

ABARE Report : Australia to Benefit from GM Crops

May 16, 2008

A report released by the Australian Bureau of Agricultural and Resource Economics (ABARE) says that genetically modified crops can provide significant economic benefits to Australia’s regional economy. “Delaying GM uptake means we are forgoing significant economic benefits for regional Australia,” said Philip Glyde, ABARE Executive Director.

“Economic impacts of GM crops in Australia” studied the potential benefits of cultivating GM crops on state and regional economies for two scenarios – adopting GM canola and adopting GM canola along with wheat, maize, soybeans and rice. South Wales is expected to benefit most from adopting GM crops while Western Australia, South Australia, and Queensland are estimated to have significant economic benefits. Glyde added that if the adoption of GM canola is delayed for five years, “ the cumulative foregone benefits would be around a total of $97 million for Western Australia and $66 million for South Australia.

The report can bedownloaded at http://www.abare/gov.au. Read the media release at http://www.abareconomics.com/corporate/media/2008_releases/12may_08.html