The short-term future of biotechnology in production agriculture looks bleak. The unattractive truth is that economics, not science can play a larger role in the future of biotechnology. Currently, some of the largest biotech companies are losing money buying up smaller companies. This reduction in competition is good and bad for the biotech companies.
They can and must raise their prices to the producers to cover the costs of buying the other companies, research and development. International demand is low for genetically engineered crops and livestock because of trade restrictions, resulting in low prices for US farmers and ranchers. They cannot afford to pay so much for their inputs, so they settle for cheaper inputs. If we, the future of agriculture can increase the demand for biotech products by educating the world on the advantages of biotech products and reduce trade restrictions; decrease the costs of inputs and increase prices to consumers, then the scientists can do the rest.
As soon as we can get past the economic glass ceiling, then the sky is the limit for biotechnology in production agriculture.