While many lament and fear the development of genetically engineered crops or animals or even people, the potential benefits far outweigh the costs. The latest example is the cotton plant. Cottonseed contains a toxin, gossypol, rendering it inedible to animals. Cotton farmers harvest as much mass of useless cotton seeds as useful cotton fiber. New genetically engineered cotton does not contain gossypol in the protein-rich seeds, thus making the seeds edible by animals and humans alike. This will have the potential to greatly increase the food supply, especially for some of the World's poorest. Cottonseed may prove a culinary delight as well.
Aside: While the spread of new engineered genes into the native populations is something generally to be avoided, let us not forget that almost all crops and livestock are the result of the slow process of genetic engineering through artificial selection, or breeding. Very few human engineered crops fare very well against the time-tested rigors of the Darwinian wilderness.