Glyphosate herbicide ban could cost UK farmers $1.2 billion, reduce tax revenue

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New figures show the potentially devastating impact of a ban on glyphosate to the British economy and the agricultural sector, warning that it would lead to a reduction in farm output of £940 million ($1.197 billion).

The figures also show tax revenues from agriculture and its supply chain could fall by £193 million ($246 million).

The stats, released by leading economic research house Oxford Economics and agriculture specialists The Andersons Centre, in partnership with the Crop Protection Association, also predicts wheat production would fall by 20%.

Ian Mulheirn, Director of Consulting, Oxford Economics, commented: “Our report’s findings are very clear, a glyphosate ban will negatively impact UK GDP and agriculture, at a time of real uncertainty for British farmers.

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“If glyphosate was not approved for use in the UK but remained available in the rest of the world, this would place domestic production at a considerable disadvantage. An EU-wide ban could even push up food prices for consumers.”

Related article:  China approves import of 5 GMO crops for animal feed, first since 2017

The GLP aggregated and excerpted this blog/article to reflect the diversity of news, opinion, and analysis. Read full, original post: Glyphosate ban ‘could cost UK farmers almost £1bn a year’

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