Genetically Modified

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Genetically Modified Organisms

Impact on the economy

Reporter: JESSEL HERRERA BACTONG


Objectives

* To identify the impact of genetically modified


organism in the economy

To Identify the Economic benefits in Specific sector of


GMO

* To determine the Ecnomic benefits and economic risk


of GMOs on the impact to the economy
According to the world health
organization ,-"Genetically modified (GM) food
are foods derived from organism whos genetic
material (DNA) has been modified in a way Does
not occur naturally ,I,e, through the introduction
of a gene from a different organization.
- Reduced Production Costs:
Farmers experience lower expenses for pest
control and herbicide applications, leading to
increased profitability

- Increased Crop Yields:


GMOs can enhance crop yields, boosting
agricultural output and contributing to food
security
- Improved Resource Utilization: GMOs can
enhance resource utilization by reducing
water and land requirements for crop
production

- Enhanced Environmental Sustainability:


Reduced pesticide use can lead to
environmental benefits like reduced soil
and water contamination
*Economic benefits in specific sectors:*

1. *Agriculture*: GMOs can increase crop


yields, reduce pesticide use, and improve
drought tolerance.
2. *Pharmaceuticals*: GMOs can produce
medicinal products, such as insulin and
vaccines

.
3. *Food industry*: GMOs can improve
food quality, shelf life, and nutritional
content.
*Negative impacts:

1. *Patenting and ownership


: Biotech companies can patent GMOs, limiting access
to genetic resources and creating monopolies.

2. *Dependence on multinational corporations*:


Small farmers may become dependent on
multinational corporations for GMO seeds, leading to
loss of autonomy.
*Contamination of non-GMO crops*: GMOs can
contaminate non-GMO crops, affecting their market
value.

4. *Regulatory costs*: Implementing and enforcing


GMO regulations can be costly.

5. *Public perception and market rejection*: Negative


public perception can lead to market rejection,
affecting exports and economic losses.
GMOs have had a profound impact on
the global economy, offering potential
benefits in terms of agricultural productivity,
food security, and economic development.
However, concerns about market
concentration, inequality, and unforeseen
consequences necessitate careful
consideration and regulation.

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