There are many arguments that can be made in favor of the use of genetically modified foods. These sorts of foods can be very beneficial (one can argue) to us in both economic and environmental ways.
First, genetically modified foods are arguably better for the environment than other kinds of foods. The plants are typically modified in ways that make it so that they can get by with fewer inputs. For example, they might be engineered to use less water. This would be good for the environment because there are many places where water is running low. They might also be engineered to need less fertilizer or to be able to repel certain kinds of insects. These modifications allow them to be grown using less fertilizer. This is good for the environment as well.
Second, genetically modified foods can be economically beneficial. That is, they can be produced more cheaply than other kinds of foods. They can be genetically modified to increase their yield, for example, giving more output per unit of space used. They can use less in the way of chemicals. These things make them cheaper to produce. This could be very good for people in poor countries where affordable food is scarce.
Thus, we can argue that genetically modified foods are good for the environment and the economy.