Europe Poised to Accept Genetically Modified Foods
Long-standing European opposition to genetically modified crops may be coming to an end, according to this piece by The Economist. For years, the European Union has banned imports of Genetically Modified Organisms (GMOs), frustrating the efforts of multinational GMO producers such as Monsanto (MON) despite WTO rulings declaring such import bans illegal and anti-competitive.
According to The Economist, “…because many large agricultural exporters have adopted GMOs, it is becoming expensive to avoid them.” Furthermore, “Copa-Cogeca, a farmers’ lobby, this week warned that the rising cost of feed could wipe out Europe’s livestock industry unless bans on GMOs are lifted.” The decision on whether to allow imports of genetically modified maize and potato crops now rests with the European Commission, which seems likely to allow it.
All this means a plethora of opportunities for multi-national food exporters like Monsanto (MON) to leverage their world-wide distribution capabilities to quickly penetrate new European markets and build market share. Will Europeans eventually come to accept regular doses of genetically modified foods in their diet? Only time will tell, but it seems likely since non-modified crops will become increasingly expense relative to modified-crops as more and more producers make the switch.
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