South Australia’s farmers are reaping the rewards of being able to grow GM canola with local crops currently the most valuable in the country – fetching more than $900 per tonne according to a November 2021 market report.
The latest Bayer GM Canola Market Report shows South Australian GM Canola priced at $915 per tonne compared with $840 per tonne in Victoria and $830 per tonne in the traditionally strong Western Australian market.
Minister for Primary Industries and Regional Development David Basham said the strong pricing for South Australian GM canola demonstrates the importance of giving our farmers the choice on what they want to grow.
“After a 16-year Labor moratorium on Genetically Modified food crops on mainland South Australia, our farmers are reaping the benefits in our first harvest of GM Canola and safflower,” Minister Basham said.
“More than 23,000 hectares of GM canola were planted around the state this season and the latest Bayer GM Canola Market Report indicates South Australian prices are currently the best in the country at more than $900 per tonne.
“Despite the doomsday predictions of some of our political opponents, GM canola has been a real boon for South Australian farmers with not only the highest returns in Australia but with less inputs.
“This is a credit to South Australia’s world-class grains industry but it unfortunately further highlights the economic opportunities our state has missed out on by living under an archaic moratorium.
“The moratorium was a handbrake on our economy and discouraged public and private investment in agricultural research and development.
“By lifting the GM moratorium everywhere except Kangaroo Island, we are backing our farmers and researchers to grow the state’s agriculture sector and create jobs.
“It also brings our farmers and researchers onto a level playing field with their counterparts around the country who have had access to GM technology for at least a decade.
“An independent review found so-called price premiums under a GM moratorium in South Australia were a myth and has cost our state’s grain growers at least $33 million since 2004.
“Our farmers also now have more tools in the toolbox to grow the agriculture industry as they battle drought and a changing climate.
“The Marshall Liberal Government listened to our grains industry and made the decision after an extensive consultation process.”