A new study by PG Economics finds that cost savings and yield gains from ag biotech crops have contributed as much as $44 billion to global farm income in past 10 years. The report shows ag biotech “insect resistant maize has delivered important economic and environmental benefits but only a small part of the potential benefit is currently being realized.”

Graham Brookes, director of PG Economics and author of the report writes:

“GM insect resistant maize adoption by EU farmers has contributed to reducing insecticide spraying, improved the quality of maize and significantly boosted farmers’ incomes. The technology has made important contributions to increasing yields, reducing production risks and improving productivity. These benefits are, however, being denied to farmers and citizens alike in several maize-growing EU Member States, with the biggest losers being the very countries which have effectively banned the use of the technology: Italy, France, Germany and Austria.”

Click here for the press release and full report.