@article{Farquharson:58446,
      recid = {58446},
      author = {Farquharson, Robert J. and Morgan, J.M. and Brennan, John  P.},
      title = {An economic evaluation of the osmoregulation gene  technology to the Australian wheat industry},
      address = {2004-02},
      number = {415-2016-26171},
      pages = {12},
      year = {2004},
      abstract = {Episodes of rainfall irregularity and soil moisture  deficit have focused attention on the widespread limitation  of water supply on winter cereal crop production in  Australia. This has motivated a number of efforts at  breeding for improved drought tolerance. A recent example  involves a cellular adaptation which mitigates water loss  through solute accumulation (osmoregulation or osmotic  adjustment). An assessment of the performance of  osmoregulation yield response in the presence of climate  change found that wheat cultivars with this gene are  unlikely to be adversely affected by hotter and drier  conditions across the wheat belt. The results of an  economic evaluation of potential future innovations (wheat  cultivars) from the osmoregulation gene technology are that  for Australia the net present value could range from $388  million to $3.6 billion, depending on the adoption of wheat  cultivars with the gene. Associated benefit-cost ratios  ranged from 43:1 to 390:1, and internal rates of return  were 16% to 27%. Even under pessimistic assumptions the  returns are quite healthy. For NSW-only adoption, internal  rates of return ranged from 10% to 22%. This osmoregulation  technology has the potential for inclusion in wheat  cultivars bred for other purposes, and for other crops. As  such it has implications for agricultural plant breeders  and farmers both in Australia and overseas, and there are  substantial potential spillover benefits.},
      url = {http://ageconsearch.umn.edu/record/58446},
      doi = {https://doi.org/10.22004/ag.econ.58446},
}