Who benefits from Biotechnology? Present by Michael Duffy Iowa State University American Seed Trade Association December 5-7, 2001 Chicago, IL

Data 2000 cross-sectional survey of Iowa farms using personal enumeration 178 soybean fields 230 corn fields Survey conducted by Iowa Agricultural Statistic Service in Fall 2000 Practices reported by farmers Prices used from Iowa State estimates Machinery costs based on Iowa Custom Rates

Conclusions Returns to herbicide tolerant soybeans and non-tolerant are essentially equal; lower yields, higher seed costs but lower herbicide and weed management costs Returns to Bt corn and non-Bt corn are essentially equal; higher yields but higher costs Primary beneficiary of first generation biotech crops are the seed companies with some benefits to the chemical companies Producer benefits come in ease of production and ability to cover more acres not in increased profits per acre