A new report from Cornell University says the proposed GMO-labeling bill in New York State could cost the average family of four anywhere from $44 to $1,500 per year.
Dr. William Lesser, Professor in Science and Business says the labeling bill working its way through the New York legislature right now would apply to about half of the food items found in the supermarket.
The big question is: how will consumers react to the labeling requirement? The study looks at three consumer options:
1: buy existing products with labels
2: switch to non-GM products
3: switch to all organic products
Under the first scenario, consumers continue to buy the products they currently use with the GM labels on. Lesser says that would result in an average annual increase of $66 for a family of four. Option 2: switching to non-GM foods would cost a median $228 per year. Option 3: switching to all organic foods would cost the average family a median $956 per year.
Dr. Lesser says he doubts many will choose the all-organic option given the high price. He says surveys show about 50 percent of consumers would buy GMO-labeled products, 40 percent would purchase non-GMO products and 10 percent would buy organic. Surveys suggest consumers would pay up to 14 percent more for non-GMO products.
The big factor is the additional expense for companies to supply traditional and non-GMO products, in effect: double inventory for almost half the products they now produce, store, transport and market. That could very well lead to them to discontinue some items and options.
In the end, Lesser concludes that if labeling laws are enacted: “There are going to be a very substantial changes in our food system and significant costs.” That would be made even more significant if we have a patchwork of state and labeling laws.
Source: www.brownfieldagnews.com