Actually, it is true.
Farming Systems Trial: Overview | Rodale Institute
Organic farming can feed the world if done right, scientists claim - Environment - The Independent
Organic farming - Wikipedia, the free encyclopedia
Oganic farms can not only be more productive, but they are more effective. Because they don't use expensive inputs like fertilizers, insecticides, herbicides, etc yet produce just as much product, their profit margin is higher. This margin is further increased by the fact that organic produce commands a higher price.
IOW, organic farms are not only as productive, they are more profitable.
Economic analysis reveals organic farming profitable long-term -- ScienceDaily
Is organic farming more profitable?
http://www.fao.org/3/a-ak355e.pdf
So if organic is more profitable, then why isn't Big Ag embracing it? Read on.
No, big agricultural corps prefer modern agricultural practices, not because they are more productive, but because it weakens the market power of the small to medium sized farmer, makes themless dependent on skilled labor, and therefore keeps them in control of the market.
1) Modern practices require huge investments in equipment, fertilizers, water, insecticides, herbicides, etc. Small to medium sized farms must become indebted in order to have any hope of surviving (which is why so many of them are disappearing) while leaving them no hope of outcompeting the larger farms.
If you owned a large ag corp, wouldn't you want the industry to embrace practices that put you at a competitive advantage and lead to small farms either going out of business or being consolidated with large ag corps?
2) Big Ag encourages the division of labor. They make it so small to medium farms can't do anything but grow the food so they have to sell what they grow to the processors....who are often owned or closely linked to the Big Ag corps. If you're a Big Ag corp that both grows and processes tomatoes, would you have the processor pay a lower price for the produce (resulting in the farms making less money and the processor making more) or would have the processor charge more?
The latter makes the Big Ag's farms more profitable (and every other farm too) and the processor less profitable. Overall, the corp makes less money because it ends up "sharing" the total profits (of both growing and processing) with the smaller farms which it doesn't own. Big Ag corps prefer to pay the farmers less because they end with more total profits in the end. The reduction in profits from farming are more than made up by the increased profits of their processors.
As you said, the Big Ag corps are amoral and only care about profit. However, increased production is not the only way for large corps to increase their profits. Practices which reduce the share of profits that smaller farms earn also increase their profits
IOW, increased profits does not mean increased production. But you did hit the nail on the head with those remarks, even if it was unintentional. The takeaway is that the reason why Big Ag likes modern practices are economic and have nothing to do with them having an interest in feeding people.