Plant breeding has increased primary agricultural product supply by a significant amount, thus stabilising markets and reducing price volatility, according to the study results. Higher yields per unit of arable land increase the supply of primary agricultural products to international markets. Breeding through controlled mating enables farmers to breed animals that are more resistant to the impacts of climate change, such as sudden changes in temperature, prolonged droughts or the appearance of new diseases. Therefore, it helps in rapid transfer of desirable gene. Plant breeding save scarce land resources around the globe by generating higher yields per unit of area. In other words, plant breeding minimizes the net virtual land. In the absence of plant breeding for major arable crops in the past 20 years, the global agricultural acreage in 2020 would have to be expanded by more than 21.5 million hectares.
Plant breeding has numerous economic benefits, including:
1. Increased yields: Plant breeding helps to develop crop varieties with higher yields, which can increase overall agricultural productivity and profitability.
2. Improved quality: Plant breeding can improve the quality of crops, making them more desirable to consumers and increasing their value.
3. Disease and pest resistance: Developing crop varieties with improved resistance to diseases and pests can reduce crop losses and increase profitability.
4. Adaptation to different environments: Plant breeding can help to develop crop varieties that are better adapted to specific environmental conditions, such as drought, heat, or cold, which can increase productivity and reduce risk.
5. Reduced input costs: By developing crops with improved resistance to pests and diseases, farmers can reduce their reliance on expensive inputs like pesticides and fungicides.
6. Enhanced market opportunities: Developing new crop varieties can open up new market opportunities, such as for specialty crops or crops with unique traits that are in high demand.
Overall, plant breeding can help to increase agricultural productivity, reduce risk, and improve profitability for farmers and other stakeholders in the agricultural value chain.