Biotech Crops Now Worth $58 Billion

Biotech crops are flourishing in the United States, but they’re also taking root across the globe, accounting for about US$44 billion ($58 billion) in crops in five leading countries, according to a report by an industry group.Argentina has planted US$8.9 billion worth of genetically engineered soybeans and corn. In China, biotech cotton is worth US$3.9 billion. There are US$2 billion in genetically altered canola, corn and soybeans growing in Canada, and Brazil has biotech soybeans worth US$1.6 billion. The United States eclipses them all with its nearly US$28 billion in biotech soybeans, corn, cotton and canola. The report, by a University of Minnesota researcher for the industry’s Council for Biotechnology Information, anticipates that growth of these gene-altered crops will soar, particularly in Asia, Latin America and parts of Africa.

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