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NEW STUDIES SHOW FISCAL IMPACT OF GMO LABELING, DIMINISHED CONCERN OVER BIOTECHNOLOGY
American Soybean Association (ASA) reports:

A pair of studies released this spring are shedding more light on the hot-button subject of biotechnology and GMO labeling, and the potential ramifications the subject may have on the consumer marketplace as the debate moves forward.

According to a June study from Cornell University, a mandatory food label on products containing GMO ingredients would add between $500 and $800 to the annual cost of groceries for the average American family.

The study went on to show that the poorer and elderly Americans-populations that eat primarily food purchased at grocery stores-will pay disproportionately for GMO labeling as compared to their younger and more affluent counterparts who dine out more frequently.

A second study from the International Food Information Council (IFIC) shows that negative consumer perceptions about biotechnology pale in comparison to their characterization by anti-GMO activists.

According to the study, only one percent of respondents indicated that biotechnology was something they want to avoid in food, compared to 30 percent that wanted to avoid carbohydrates and sugars.

Furthermore, only four percent indicated that information on biotechnology was critical information they would like to see on a food product label.


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