Forbes – Physicist and author Rob Carlson of Biodesic reports that revenues from genetically modified crops are much larger than commonly reported:
I continue to be surprised by the misreporting in major publications of revenues from GM crops. Based on USDA statistics and average crop prices, the three main GM crops in the U.S. (corn, soy, and cotton) brought in farm scale revenues of $100 billion in 2010. As I noted in 2009 in Nature Biotechnology, many news outlets continue to report the $5.5 billion in revenues from U.S. GM seed sales as total sector revenues.
With U.S. biologics revenues of $75 billion, and industrial biotech revenues of $115 billion, total U.S. 2010 revenues from genetically modified systems were $300 billion, or the equivalent of more than 2% of GDP. Read Article