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The 30 percent Price Hike from a GMO-Free Market Basket of Food in the United States

Tuesday, March 7, 2017 11:44
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Summary

We examine the consumer cost consequences of choosing GMO-free food over food that contains GMOs. Using text-mining algorithms applied to detailed product descriptions contained in a proprietary database of individual GMO and GMO-free foods at the retail level, we find that, when directly compared item by item, GMO-free food costs an average of 33% more than a comparable food item that is not GMO-free. When compared on a per-ounce basis, GMO-free foods cost an average of 73% more. Generalizing to the cost of a typical market basket of food consumed by American households, GMO-free food consumption would increase the average family food budget from $9,462 to $12,181 per year.
Key words: biotechnology, consumer food choice, GMO-free, market basket.

AgBioForum 19(1): The Cost of a GMO-Free Market Basket of Food in the United States:

Barry K. Goodwin, Michele C. Marra, and Nicholas E. Piggott
North Carolina State University AgbioForum 19(1) 2017



Source: http://gmopundit.blogspot.com/2017/03/the-30-percent-price-hike-from-gmo-free.html

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