The global food production industry is expected to undergo a significant transformation as a result of the pervasive use of GMOs, according to certain predictions.
Genetically modified organisms offer a glimmer of hope to countries that are grappling with food scarcity and inefficient agriculture due to decreased yields, insect resistance, and flexibility.
However, GMOs have intricate economic implications, necessitating a thorough assessment of their advantages and disadvantages.
Higher yields are the most significant economic benefit of genetically modified organisms. Genetically modified crops resistant to pests, diseases, and extreme weather conditions yield more robust harvests. This results in increased income for producers and reduced losses as a result of unsuccessful crops.
For instance, the introduction of BT cotton, a genetically engineered crop that is resistant to bollworms, has significantly increased cotton yields in South Africa and India.
Genetically modified maize and soybean crops have facilitated farmers’ utilisation of their land. Another benefit is the reduction of production expenses.
Compared to conventional crops, genetically modified crops need fewer inputs, such as insecticides and herbicides. The cost of cultivation is lower as a result of reduction in personnel and machinery expenses.
Producers have the option to reinvest the savings in their business. Herbicide-tolerant genetically modified crops is that they simplify weed management by eliminating the necessity for manual weeding or numerous herbicide applications.
Another advantage is the increased likelihood of exporting. Global demand for genetically modified products is considerable, which presents a chance for countries that adopt GM crops to access these markets.
The export of genetically modified soybeans and maize has resulted in substantial financial gains for countries such as the United States and Brazil.
Finally, there is economic growth and food safety. The utilisation of GMOs is instrumental in guaranteeing that individuals in regions susceptible to drought have access to nutritious food by increasing availability and affordability of fundamental crops.
Economies are able to thrive when food systems are stable, as they promote agricultural investment, which in turn increases rural employment and decreases dependence on food assistance.
On the flip side, the economic consequences of GMOs include the high cost of genetically modified seeds, monopolistic practices that are exacerbated by the fact that a small number of biotech firms dominate the GMO sector, public perception, and the reluctance of certain buyers. GMOs offer undeniable economic benefits, including increased productivity, reduced prices, and enhanced food security.
However, in order to achieve equitable and sustainable outcomes, it is necessary to surmount the challenges, which encompass market constraints and exorbitant seed prices.
To ensure that GMOs are a net positive for the economy, it is imperative that policymakers, biotech firms, and producers collaborate to establish mechanisms that facilitate innovation and equity.
This way, GMOs can be transformed into a tool for agricultural progress and a foundation for economic resilience and stability.
Dr Ann Karimi is the director of corporate services at the National Biosafety Authority
