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No point to biotech says group of New Zealand academics

(Monday, Sept. 8, 2003 -- cropChoice news) -- Onenews.com, 09/07/08: A new study from Lincoln University shows that release of genetically modified (GM) crops will have no financial benefit for producers.

The details were presented at a biotechnology symposium at Victoria University in Wellington, which was looking at the impacts of GM.

Caroline Saunders from Lincoln University's agribusiness and economics research unit says GM food releases have not benefited producers anywhere in the world, and economic modelling shows the situation for New Zealand is no different.

Professor Saunders says producers will only benefit from GM crops when consumers demand them, and New Zealand producers do not have anything to gain from growing GM food.

Saunders warns that any potential for increased productivity from GM crops would not lead to higher producer returns, saying it is better to have greater demand through shorter supply.

Meanwhile, Crown Research Institute scientists told the symposium that initial studies show certain GM plants have little or no affect on soil nematodes, honey bees, and some other insects.

Source: http://onenews.nzoom.com/onenews_detail/0,1227,218948-1-7,00.html