According to the Rabobank Bank, which is headquartered in the Netherlands, farmers in India and Brazil have expanded their acreage for genetically modified cotton due to the anticipated increase in yield and income from genetically modified cotton. Therefore, in 2006-07, more than half of the world’s cotton plants may belong to transgenic varieties. Below, the proportion of genetically modified species is now 35%.
The genetically modified cotton varieties developed by scientists are resistant to pests and diseases, reducing the application of pesticides and fertilizers, thus reducing farmers' production costs and increasing their income. Increases in biotechnology sales in Brazil and other countries may support global cotton production.
The Rabobank Bank of the Netherlands stated in the May Cotton Industry Report that the increase in the production of GM cotton will have a long-term impact on the marginal cost of production, as well as the price that follows it.
After the large harvest of cotton in the United States and China last year, the price of cotton on the New York Futures Exchange plummeted by 40%. According to the U.S. Department of Agriculture, global production may be 2.5 million tons more than cotton in the year ending July 31.
India, the world’s third-largest cotton producer, planted 550,000 hectares (1.36 million acres) of genetically modified cotton last year, an increase of 460% from the previous year.
The Dutch bank said that some assessments indicate that the area of ​​GM cotton planted in 2005-06 may be officially doubled to 1 million hectares, coupled with high yields of high-quality seeds, so market rumors that India will overtake the United States in the near future , becoming the second largest cotton producer in the world, second only to China.
Meng Sandu Company, located in St. Louis, is the world’s largest GM crop development company. The company predicted on May 19 that the GM cotton seeds sold to India will be enough to plant 2.5 million acres, double the previous year, against Bt against cotton bollworms. Cotton based. According to the International Service Company for Agricultural Genetically Modified Applications, the company's sales of genetically modified technology to cotton farmers increased by 15% last year to US$4.7 billion.
54% of cotton grown in the United States is genetically modified. The proportion of genetically modified cotton in China has increased to 76%, compared with 80% in Australia. Since the government officially approved the planting of genetically modified varieties in March, Brazil, the world’s fifth-largest cotton-growing country, is likely to become the world’s largest grower of genetically modified cotton.
The bank said that Brazil’s rate of increase may be rapid. The drop in the cost of genetically modified production will encourage farmers to use GM seeds and expand Brazilian cotton exports. Haroldo Cunha, president of the cotton growing association in Goias, Brazil’s third-largest cotton-growing state, said that next year, the proportion of BT1 and other genetically modified varieties grown in Brazil may increase to 20%, and this year it is less than 10%.
The cost of cotton production in Brazil has increased from 43 cents per pound two years ago to 50 cents, partly because of the increased cost of ammonia and fertilizers due to the increase in energy costs.
The genetically modified cotton varieties developed by scientists are resistant to pests and diseases, reducing the application of pesticides and fertilizers, thus reducing farmers' production costs and increasing their income. Increases in biotechnology sales in Brazil and other countries may support global cotton production.
The Rabobank Bank of the Netherlands stated in the May Cotton Industry Report that the increase in the production of GM cotton will have a long-term impact on the marginal cost of production, as well as the price that follows it.
After the large harvest of cotton in the United States and China last year, the price of cotton on the New York Futures Exchange plummeted by 40%. According to the U.S. Department of Agriculture, global production may be 2.5 million tons more than cotton in the year ending July 31.
India, the world’s third-largest cotton producer, planted 550,000 hectares (1.36 million acres) of genetically modified cotton last year, an increase of 460% from the previous year.
The Dutch bank said that some assessments indicate that the area of ​​GM cotton planted in 2005-06 may be officially doubled to 1 million hectares, coupled with high yields of high-quality seeds, so market rumors that India will overtake the United States in the near future , becoming the second largest cotton producer in the world, second only to China.
Meng Sandu Company, located in St. Louis, is the world’s largest GM crop development company. The company predicted on May 19 that the GM cotton seeds sold to India will be enough to plant 2.5 million acres, double the previous year, against Bt against cotton bollworms. Cotton based. According to the International Service Company for Agricultural Genetically Modified Applications, the company's sales of genetically modified technology to cotton farmers increased by 15% last year to US$4.7 billion.
54% of cotton grown in the United States is genetically modified. The proportion of genetically modified cotton in China has increased to 76%, compared with 80% in Australia. Since the government officially approved the planting of genetically modified varieties in March, Brazil, the world’s fifth-largest cotton-growing country, is likely to become the world’s largest grower of genetically modified cotton.
The bank said that Brazil’s rate of increase may be rapid. The drop in the cost of genetically modified production will encourage farmers to use GM seeds and expand Brazilian cotton exports. Haroldo Cunha, president of the cotton growing association in Goias, Brazil’s third-largest cotton-growing state, said that next year, the proportion of BT1 and other genetically modified varieties grown in Brazil may increase to 20%, and this year it is less than 10%.
The cost of cotton production in Brazil has increased from 43 cents per pound two years ago to 50 cents, partly because of the increased cost of ammonia and fertilizers due to the increase in energy costs.
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