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July 31st, 2018 / Farming UK

A new report has quantified the significant financial benefit of using GM crop technology to maximise agricultural productivity.

The report, which has been produced by Graham Brookes and Peter Barfoot of UK-based PG Economics Ltd, looks around the world at where GM science has been used to boost productivity and save costs.

The authors concludes that the financial benefit at farm level was $18.2 billion in 2016 alone and as much as $186.1 billion for the period from 1996 to 2016.

Some 65 per cent of the gains came from yield and production gains and the remaining 35 per cent came from cost savings.

These findings come at a time when speculation continues over whether the UK will embrace GM technology in the wake of its withdrawal from the European Union. Read more