Biotech crops benefit consumers, economist says

Biotech crops benefit consumers, economist says

Consumers benefit more than biotech companies from the technology of transgenic crops, says agribusiness professor Nicholas Kalaizandonakes at a lecture sponsored by Oregon State University.

Consumers have realized a net economic gain of roughly $130 billion from genetically engineered crops since their adoption began in mid-1990s, according to Kalaitzandonakes' "meta-analysis" of other studies.

Improved yields and other efficiencies associated with biotech crops have boosted production of major food and fiber commodities, thus driving down their costs, he said.

Read more at Capital Press.

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