Published Date : Dec 07, 2015
The genetically modified food sector in the past few years has attracted much negative media attention. Many consumers perceive that genetically modified organisms (GMOs) such as crops are harmful to health. This has led to many companies selling products which are GMO free and organic. However, according to many top food bodies such as the US FDA, GMOs are not harmful to health as there is no evidence yet found for this.
In spite of this assurance from official bodies, GMOs are viewed with much skepticism. This has negatively impacted the growth of many regional GMO sector. In China, the GMO sector is now in a state of limbo and companies are aiming to launch their products overseas in order to improve their sales and expand their capacities. A biotech seed firm from China is now planning to launch the nation’s first GM corn products abroad to international top agricultural companies due to Beijing’s reticence over genetically modified foods which is preventing Chinese companies from approaching their domestic markets.
This plan from the firm Origin Agritech, based in Beijing is to test their technology in the U.S. The U.S. is the dominant sector in the world and marked by the presence of GMO giant firms such as Monsanto. In the beginning of 2015, China National Chemical Corp aimed to skirt hurdles at home and planned to acquire a tried and tested GMO pipeline by negotiating for the top agri firms based in Swiss, Syngenta.
This policy in Beijing about GMO at times has remained inconsistent and billions of dollars have been invested to develop technology to ensure supplies for the huge population of the country. However, no major food crops received approval for cultivation due to the growing anti-GMO sentiment in the nation. In addition to this, bumper harvest in the past ten years has also decreased the urgency for innovative technologies.