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Will your business make a profit from GM foods?

As Pierce Cody says, organic products and healthy food is currently all the rage, but can this trend continue?

Jason Baker, IBISWorld’s general manager believes shoppers will eventually trade their newfound principles for products with appealing promises. “Currently the public is relatively resistant to the idea of GM [genetically modifies] foods, with a report last year suggesting more than 50 percent of the population wouldn’t eat them, but that’s likely to change.

“As the benefits of GM foods are further established we expect shoppers will slowly come around to the idea, with an enormous economic benefit for growers of GM crops and other food manufacturers.”

This is looking even more likely now that Victoria has plans to allow GM crop planting next year. It is expected the other states and territories will soon follow in their lead.

Also pushing the case for GM foods is the increasing obesity epidemic. “The next step in making food healthier will be through genetic modification,” says Baker. This was seen when breeding programmers in the United States reduced the fat content in pork. “Ideologically a lot of Australians may be opposed to this kind of manipulation, yet their expanding waistline may eventually trump their ethical ideals.”

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