The Economics of Biotech Quality Enhanced Crops

The Case of High Oleic Soybeans

April 2021
More details
  • Publisher
  • ISBN 9781780648477
  • Language English
  • Pages 300 pp.
  • Size 6.25" x 9.25"

This book presents a framework for analyzing the economics of quality-enhanced biotech crops from concept to commercial introduction and use, focusing on how their economic value and supply chains must be modified.

The book introduces systematic ways for analyzing key aspects of commercialization, including estimating potential demand; potential substitution with existing products in the market; potential production systems and supply; potential supply chains and their economics; potential premiums that must be paid by users; and potential premiums that may be paid to the supply chain as well as to producers and others. It outlines methods, models and data that may be used for such analysis and will demonstrate their use through empirical applications in the context of HOS. It is accessible and valuable to a broad audience including policy-makers, regulators, economists, lawyers, industry executives, and scientists with an interest in the commercialization and impact of all emerging genetically modified crops with enhanced quality traits.

Key Features:

• Analytical framework for looking at quality-enhanced crops
• Detailed assessment of first major quality-enhanced crop
• Considers the economic value and supply chains

1. Introduction—history of quality enhanced crops in last 30 years
2. Quality enhanced crops – typology, technologies, past and future pipeline
3. Key economic considerations in the commercialization of quality enhanced crops
4. Empirical analysis of economics of quality enhanced crops: the case of HOS
5. Economics of substitution in existing uses/markets
6. Economics of new uses – HOS introduction in industrial markets and other new uses
7. Potential changes in supply chains— degree of supply chain segregation, standards and associated economics
8. Potential changes in processing, refining, and other industrial/manufacturing processes and economics
9. Potential behavioral responses of soybean producers to HOS and associated supply chain changes; potential adoption; implied premiums and other incentives calculations
10. Potential behavioral responses of consumers and other end users; potential willingness to pay
11. Market segmentation and global market equilibria; farm level prices of HOS and other oilseeds; prices of oils and meals; trade
12. Welfare implications – benefits and distribution from introduction of HOS
13. Conclusions and Implications for value-enhanced biotech crops

Nicholas Kalaitzandonakes

Nicholas Kalaitzandonakes is the MSMC Endowed Professor of Agribusiness Strategy and the Director of the Economics and Management of Agrobiotechnology Center (EMAC) at the University of Missouri. His research, teaching and outreach focus on the economics and policy of agrifood biotechnology and other agribusiness innovations. Over the past five years, Dr. Kalaitzandonakes has authored articles on the economic and environmental impacts of biotechnology; its impacts on the structure of the agrifood supply chain; on biotech entrepreneurship and industrial development; the impact of biotechnology on international trade; and on biotech regulation. Through an active outreach program, Dr. Kalaitzandonakes advises governments, international organizations, non-profits and Fortune 500 firms on the economics, policies and regulations of agrifood innovation. He is also a member of scientific advising boards for startups, venture capital firms and national research centers involved in the life sciences and has been a member of the US Secretary of Agriculture Advisory Committee on Biotechnology and 21st Century Agriculture (AC21) and the Missouri Governor's Advisory Council for Plant Biotechnology.

Alex Magnier

Alex Magnier is at the University of Missouri-Columbia.