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Review article (Published On: 09-Nov-2023)

Global economic impacts of genetically modified organisms (GMOs) - A review

Abdulfeta Tariku

J. Agri. Res. Adv., 05 (04):37-47

Abdulfeta Tariku: Ethiopian Institutes of Agricultural Research(EIAR), Chiro National Sorghum Research and Training Center(CNSRTC).

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Article History: Received on: 25-Jul-23, Accepted on: 29-Oct-23, Published on: 09-Nov-23

Corresponding Author: Abdulfeta Tariku

Email: abdulfetah02@gmail.com

Citation: Abdulfeta Tariku (2023). Global economic impacts of genetically modified organisms (GMOs) - A review. J. Agri. Res. Adv., 05 (04):37-47


Abstract

This review article mainly focuses on the importance, possible risks and state of public debate on genetic engineering particularly on genetically modified organisms (GMOs). The economic impacts of GMOs are complex and multifaceted, with both advantages and disadvantages that need to be considered. Some studies have shown potential benefits, such as increased crop yields, reduced production costs,reduced pesticide usefor farmers, opened up new markets and export opportunities for agriculture, leading to increased incomes for farmers.Others have raised concerns about the long-term sustainability and negative effects on small-scale farmers, food safety and environmental risks, increased dependency on agrochemical companies, as GMO seeds are often patented and controlled by these corporations. Additionally, the high costs associated with GMO development and intellectual property rights have led to monopolization in the industry, further limiting the access and affordability of genetically modified crops for small scale farmers. Ultimately,to address these concerns and ensure the sustainable and equitable use of GMOs,  further research is needed to fully understand and evaluate the economic implications of GMOs, taking into account both short-term benefits and long-term consequences for agricultural practices and food security.This research should focus on assessing the potential risks and benefits of GMOs, as well as exploring alternative agricultural practices that promote sustainable farming for maximizing the economic benefits of GMOs and safeguarding the environment and public health.Additionally, dialogue between various stakeholders, including scientists, policymakers, farmers, and consumers, is crucial to discuss and negotiate the regulations and guidelines for the use of GMOs.


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