Study shows consumers will pay a premium for biotech foods with enhanced nutrition
Research conducted by Wallace Huffman, professor of agricultural economics at Iowa State University, shows consumers are willing to pay more for biotech foods with enhanced nutritional benefits, according to the Philippines publication Manila Bulletin.
Professor Huffman, whose study was published by the Journal of Agricultural and Resource Economics (JARE), said, “What we found was when genes for enhancing the amount of antioxidants and vitamin C in fresh produce were transferred by intragenic methods, consumers are willing to pay 25 percent more than for the plain product (with no enhancements).That is a sizable increase.” Read more.
Korean government considering approval of GM crop cultivation
Korea’s government is considering approval of GM crop cultivation to help improve the country’s food security, Korea Times reports. “We are getting ready because we don’t want to be left behind in 20 or 30 years when everybody does GM,” a government official said. Read more.