Opposition to genetically-modified crops is costly, claims a new report prepared by a foundation funded mainly by companies that develop and market GMO crops.
The study, Suppressing Growth:How GMO Opposition Hurts Developing Nations, claims the losses will amount to $1.5 trillion between now and 2050. That’s about $385 million per year.
It also claims the benefits between 1996 and 2013 amounted to $133 billion, which is $7.8 billion per year.
And while it argues that poor farmers in poorer countries are denied GMO advances, it also says 16.5 million small farmers cropping 230 million acres planted GMO seeds in 2014.
The study was funded by the Information Technology and Innovation Foundation.