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HomeAg NewsMexico’s Proposed GMO Corn Ban Will Cost U.S. Producers Billions

Mexico’s Proposed GMO Corn Ban Will Cost U.S. Producers Billions

A Mexican presidential decree to ban genetically modified corn in 2024 would have severe economic consequences for the U.S. and Mexican economies. A study from World Perspectives, Inc., says the move will result in a loss of billions for America’s farmers and higher prices for Mexican consumers. The net economic loss for the U.S. corn industry in the first year of the ban will be $3.56 billion. The U.S. ethanol industry, including DDGS, will incur a net loss of $521.5 million after accounting for gains from lower GM corn prices. Overall, the U.S. economy would lose $73.89 billion in economic output. During a ten-year forecast, the GM corn ban will increase the cost of corn by an average of 19 percent.  That will inflate the cost of most foods and other goods for Mexicans. Poultry meat prices will jump by 67 percent because of a 13.7 percent increase in the cost of feed.

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