December 15, 2014

GM seeds gaining wider acceptance and use -- report

An international research company said that in six years' time the global market for seed would exceed US$112 billion as population base expands, focus on food security rises and demand for genetically modified (GM) seeds rises in developing countries.

Global Industry Analysts Inc. (GIA) said the GM seeds "constitute the fastest growing market segment" although traditional seeds continue to account for a major share.

It said "the need for increased productivity against the backdrop of decreasing arable land, and growing number of people to feed" were the main drivers of growth for GM seeds, or bioseeds.

"Future growth in the (seed) market will come from expanding world population, rising adoption of seed biotechnology across the world, and growing land reclamation for the purpose of agriculture," the GIA report said.

"Other important growth drivers include the steady progress in the development of drought-tolerant seed varieties and stacked seeds that can tolerate pests, weeds and other diseases, surge in home gardening to combat food safety issues, among others," it added.

Other studies have shown that GM seeds have built-in resistance to pests that traditionally attack crops.

The report noted that the wider use of GM seed was "a welcome boon for agriculturists who are often plagued by uncertainties due to low-performing seeds and crops."

"The acceptance of high-performing hybrid and genetically engineered seeds is increasing steadily," the GIA report said, adding that Asia-Pacific is the largest and fastest-growing seed market with a compound annual growth rate of 12.6%.