The New South Wales Government has announced it will lift its 18-year ban on genetically modified crops.
From the first of July, Tasmania will be the only state left with a moratorium on farmers using genetically modified seeds.
New South Wales Agriculture Minister Adam Marshall says the technology could deliver up to 4.8 billion dollars over the next ten years.
He says the federal government's gene technology regulator would provide an adequate safety system to assess applications to grow GM crops.
But despite the announcement, some have highlighted that genetically modified crops have been grown in New South Wales for years.
State Greens MP Tamara Smith notes that cotton and canola have been modified to be resistant to the herbicide RoundUp, and allowed to be grown in the state since at least 2010.
NSW Farmers President James Jackson supports lifting the ban, but with three principal conditions.
He wants the independent federal oversight body to be maintained, clear labelling of GM foods, and protections for organic farmers who choose not to use the technology.
If those conditions are met, Mr Jackson believes it can be a useful tool in the fight against climate change.
Alex Mitchell from the National Association for Sustainable Agriculture points to a drop in market confidence for products even where they don't use GM technology.
