Agricultural Biotechnology: An Economic Perspective
David Schimmelpfennig, Jan Lewandrowski, John Reilly, Marinos Tsigas, Ian Parry, Roy Darwin, Zhuang Li, Robert Mendelsohn, and Tim Mount
Agricultural Economic Report No. (AER687) 64 pp,
May 1994
The development of agricultural biotechnology offers the opportunity to increase crop production, lower farming costs, improve food quality and safety, and enhance environmental quality. This report describes the economic, scientific, and social factors that will influence the future of biotechnology in agriculture. The supply of biotechnology innovations and products will be affected by public policies and by expectations of producer and consumer demand for the products. The demand for biotechnology by farmers and food processors is derived from the expected profitability of using the technology as an input to production. Ultimately, the use of biotechnology in the farm sector will depend on consumer demand for the biotechnology-derived agricultural product.
Keywords: biotechnology
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Updated date: May 1, 1994
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