Updated 3:00 AM ET
July 20, 2000 |
WASHINGTON, July 20 /PRNewswire/ -- The American Corn Growers
Association (ACGA) strongly believe that the likelihood of
increased corn yields to help provide food for the world's hungry
people is the wrong reason for farmers to plant genetically
modified (GMO) crops. Increased yields only lead to lower prices
received by America's corn producers.
The latest public relations campaign by the Administration and
biotechnology industry states that the only way to provide enough
food for a growing world population is through the increased
productivity of biotechnology. With USDA predictions of a record
corn crop and prices hitting a 12-year low in the July future's
contracts on the Chicago Board of Trade, higher yields are finding
no additional world markets while dropping commodity prices even
further. Currently corn prices in parts of South Dakota are as low
as $1.16 per bushel.
Some industry officials claim that GMO corn has a 10% higher
yield advantage over traditional, non-GMO corn varieties. In 1999,
if all the nation's farmers would have planted GMO corn and with
last year's corn crop at 9.4 billion bushels, a 10% increase in
yield would have generated an additional 940 million bushels. That
is the equivalent to all the annual corn utilized for corn
sweeteners and half the annual corn needed for the ethanol
industry.
"The worst possible reason to support genetically modified
corn is to bring about increased productivity and higher corn
yields. This could result in the bankrupting of America's
agricultural producers, driving corn prices below $1.00 per
bushel," said Gary Goldberg, Chief Executive Officer of the
ACGA.
While feeding the hungry is a laudable goal, current record
feed stocks in the U.S. is still not finding its way to those who
need it the most. Therefore, the real reasons for hunger is not
necessarily the lack of food but the lack of income to purchase
and the absence of an infrastructure to get the food to those who
need it the most. If the hungry cannot be fed with current
worldwide overproduction, what guarantee is there that additional
productivity will solve the problem?
"While farmers may believe that potential savings in
herbicides and insecticides usage and increased efficiency will
result from the planting of GMO corn, higher yields alone are the
worst possible reason to plant additional acres of genetically
modified corn. This will only drive corn prices even lower,
forcing higher governmental outlays and increased dependency on
federal subsidies," added Goldberg.
In 2000, corn acres planted to GMOs are estimated at 19.9
million acres. While that number is 20.4% lower than 1999, is
still represents almost 25% of the total corn crop. A 10% yield
increase on these 19.9 million acres with an average yield of 135
bushels to the acre is adding 268 million more bushels to this
year's crop. It is safe to say that those additional bushels
resulting from GMO corn have lowered prices from 10 to 15 cents
per bushel. At a 10 billion bushel crop estimate, GMO corn results
in a loss of $1 billion to $1.5 billion for production
agriculture.
"Using the premise of feeding the world's hungry people
with the use of genetically modified crops does just the opposite
of its intended goal. Instead of providing more food for the world
it adds to the economic depression facing America's farmers,
making it increasingly difficult for U.S. farmers to afford to
feed their own families, let alone those around the world. The
Administration and the biotechnology industry must find other
reasons to justify the utilization of GMOs besides the excuse of
feeding the rest of the world," concluded Goldberg.