Answer:
PROS
More nutritious food
Tastier food
Disease- and drought-resistant plants that require fewer environmental resources (such as water and fertilizer)
Less use of pesticides
Increased supply of food with reduced cost and longer shelf life
Faster growing plants and animals
Food with more desirable traits, such as potatoes that produce less of a cancer-causing substance when fried
Medicinal foods that could be used as vaccines or other medicines
CONS
Studies have shown that genetically modified corn and soy fed to rats led to a higher risk of them developing liver and kidney problems. These health risks may not be transferable to humans, but they illustrate the unpredictable nature of GMOs on living things.
GMOs are not always tested thoroughly. The shortest GMO testing times are a mere 90 days, which many fear is simply not enough time to ascertain all of the risks.
Transgenic modification produces organism types which would never occur naturally, making them highly unpredictable.
GMOs could affect those with allergies in unpredictable ways.
Though GMOs were developed with a view to reducing the amount of pesticides used, this is not always the case. As weeds and bacteria become resistant to the pesticide, farmers actually use more, safe in the knowledge the crop will not be affected.
Often GMO products are not clearly labelled, meaning people do not have the choice to decide whether or not they wish to consume GMO products.
GMO testing often involves performing experiments upon animals, which some people feel is a breach of animal rights.
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