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GENETICALLY MODIFIED ORGANISMS

Group 7 : Monica Hu Leanne Castillo Andres Escobar Angel Liu Leo Sato. GENETICALLY MODIFIED ORGANISMS. What is a GMO or GM-food?. Genetically modified foods produced from organisms that have had specific changes introduced into their DNA using the method of genetic engineering .

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GENETICALLY MODIFIED ORGANISMS

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  1. Group 7: Monica Hu Leanne Castillo Andres Escobar Angel Liu Leo Sato GENETICALLY MODIFIED ORGANISMS

  2. What is a GMO or GM-food? Genetically modified foods produced from organisms that have had specific changes introduced into their DNA using the method of genetic engineering.

  3. Who are the players? Oligopoly

  4. Government subsidy (pricing)

  5. GMO examples Do you know what you are eating?

  6. The way we eat has changed more in the last 50 years than in the previous 10,000 !

  7. Food availability all year long

  8. Kid’s meals nowadays composed of 80% GMOs No way! WHAT ?! Seriously?

  9. How is this possible ?

  10. Some other examples

  11. Salmon vs. Franken-Salmon

  12. GMO = inferior goods • Cheap, low quality goods and GMOs are inferior goods for many people. • If their income would increase, the amount of GMO based food would decrease and they would tend to buy healthier food (organic).

  13. Use them or not?

  14. The current debate over GMOs

  15. The current debate over GMOs

  16. The current debate over GMOs

  17. The current debate over GMOs Cost of managing pests is decreasing

  18. The current debate over GMOs

  19. The current debate over GMOs

  20. GMO labeling 1997 first GMO soybean import to E.U. 1997/1998 start labeling(regulation EC No.258/97)

  21. Impacts of GMO Labelling: • Increase consumer awareness • Promoting informed decisions based on customer beliefs and lifestyle needs • Support small/local organic farms • Encourages further studies and analysis of GMO traits and consequences on all levels of the supply chain

  22. Impacts of GMO Labelling: • May increase costs for suppliers due to new labeling production • Creation of stigma towards GMOs and the stores that offer such products • Small/Conventional Farmers may be unable to supply the increased demand • Possible barrier to enter/access foreign markets

  23. GMO Labelling War

  24. GMO Transparency? • Whole Foods Market announced that,by 2018, all products in its U.S. and Canadian stores must be labeled to indicate if they contain GMOs. Whole Foods Market is the first national grocery chain to set a deadline for full GMO transparency.

  25. Whole Foods Market One of the world’s largest retailer of natural and organic foods with stores throughout the US and UK. Store brand products: More than 2,600 natural and organic products under the Whole Foods Market, 365 Everyday Value and Whole Catch brands Size: Eighth largest food and drug store in the U.S. Fortune 500 list: Number 232 Stock Exchange symbol: WFM (NASDAQ), member since Jan. 23, 1992 Sales: $12.9 billion in fiscal year 2013

  26. Food Companies reaction to current trend: • Competitors are Re Branding to organic • Take over of small Organic stores by Food Companies with established reputations • Exit of suppliers from Whole Foods • Entrance of up and coming organic stores

  27. Monsanto • A sustainable agriculture company? • 1901 Monsanto was founded • 1976 Roundup Herbicide is commercialized in the US • 1982 First company to genetically modify a plant cell • 1996-1998 Roundup Ready soybean, Canola, Cotton and corn are introduced to farmers’ (1st Generation) Agricultural Seed Brands: Weed Control Brands:

  28. Monsanto cont’d:

  29. Food Industry Power

  30. Summary

  31. GMO usage has completely changed the way we eat • People that suffer the most are those with lower incomes • More and more countries are adopting mandatory labeling • Banning or regulating GMOs • 93% of US consumers favor labeling One thing’s for sure, the GMO debate is far from being over.

  32. DISCUSSION QUESTIONS • How would your consumption change? How would your elasticity be modified?

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