Valuation of Plant Genetic Resources

Plant genetic resources refers to the biological diversity of crops and their wild relatives, encompassing both phenotypic and genotypic variation, including cultivars or varieties recognised as agro-morphologically distinct by farmers and genetically distinct by crop improvement scientists. The value of plant genetic resources is as per the people who depend on it. However, as the costs of conservation mount, it seems to be true that every conservation action needs to be supported with argument that shows tangible and measureable benefits from such action to get the funding needed. In this paper the value of plant genetic resources is briefly discussed, along with the cost of plant genetic resources conserved in genebanks and on farms. This is followed by brief review of literature on economic valuation of plant genetic resources/biodiversity and some issues in such valuation efforts. Some studies on valuation plant genetic resources from different perspectives are discussed. The paper is concluded with a question as to the need for economic valuation of plant genetic resources on which it is difficult to place a value.