Genetically Modified Foods Economics Essay

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GMO Speaking Notes

Thank you all for your time today. Our team is here to discuss the nature of genetically modified and engineered foods in order to evaluate their role in food service and consumption today. We have several presenters here to discuss the various elements of the presentation, all of whom will walk you through different aspects of the current environment. I will be discussing the economic factors surrounding the increased use of genetically modified foods.

The high prevalence of genetically modified and engineered foods is a relatively recent phenomenon. As seen in this graph, prior to the late 1990s, there was much lower rates of genetically modified foods in the market. 1997 actually proved a crucial year, proving to be the beginning of a steady incline of the use of genetic engineering for use in the agricultural and food industries.

One of the first crops to see significant increases in GMO status are soybeans.

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There was a sharp increase in the rate of genetically modified soybeans from 1997, and these rates have continued to grow dramatically since then.

The second highest product has proven to be cotton.

Yet, it is clear by the graph that most crops today have seen huge increases in the rate of genetically modified products. HT corn was one of the last products to see this massive increase, but has since joined the rest of the products. Rates of genetically modified foods in 2007 were the highest in recorded history, illustrating a trend of continuing growth.

Slide 4

As seen in this slide, some countries have been quicker to adapt genetically modified practices in their agricultural strategies than others. One of the world's leading nations to grow genetically modified crops is the United States, where 69 million hectares of crops….....

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