Wanki Moon and Siva K. Balasubramanian
Southern Illinois University Carbondale
Our study provides a descriptive analysis of contingent valuation survey data to examine whether there is market for genetically modified (GM) foods in the European Union (EU). Thus far, consumers in the EU have not had opportunities to make choice between GM and non-GM foods largely because food manufacturers and retailers have not offered GM foods in the supermarkets. However, with the European Union likely to replace the current moratorium on approving GM crops with mandatory labeling and traceability with 0.9 % tolerance level, consumers in the EU may see GM food products in the supermarkets. Using CV survey data collected in the United Kingdom (UK), two types of UK consumers who will choose GM over non-GM foods were identified: (a) consumers who embrace GM technology, and (b) consumers who are price conscious.
Key words: Contingent valuation survey, market for GM food, UK consumers.