Non-GMO driving Russian food price increase
New voluntary screening and voluntary 'No GMO!' labelling is driving up food prices in Moscow, according to reports.
At present only foods sold in Russia that do contain genetically-modified
organisms must declare this on their labels. But following a ruling made by the
Moscow regional government in February, from July products sold in that region
may bear a new No GMO! label, if they pass testing at one of 16 laboratories.
According to the Russian new outlet Kommersant, major retailers have strongly
advised food producers to avail themselves of the mark. It is expected that No
GMO! foods could be sold for between 0.5 and 15 per cent more than their
counterparts that do not bear the logo.
Related news
Related news
GKI: Deteriorating confidence indices and economic outlook in Hungary
In November, both businesses and consumers became more pessimistic about…
Read more >Arabica coffee price hits 47-year high
The futures price of arabica coffee has reached a 47-year…
Read more >The new consumer protection authority will strive to ensure market balance
The National Trade and Consumer Protection Authority (NKFH), which will…
Read more >