Do Agricultural Commodity Prices Respond to Bans against Bioengineered Crops? |
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| Authors: | Joe L Parcell Nicholas G Kalaitzandonakes |
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| Institution: | Assistant professor of agribusiness, Agribusiness Research Institute, University of Missouri, Columbia, Missouri. Senior authorship is assigned equally.;Professor of agribusiness, Agribusiness Research Institute, University of Missouri, Columbia, Missouri. |
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| Abstract: | Bans against bioengineered food ingredients by major food companies have been broadly reported and have been often taken to signal demand shifts away from commodities in favor of identity-preserved non-bioengineered crops. Yet, the impacts of such bans have not been quantified and, indeed, the market size for non-bioengineered crops remains unknown. We tested whether either the Chicago Board of Trade soybean futures prices (commodity) or the Tokyo Grain Exchange non-GMO soybean futures prices (identity preserved market) responded to firm bans of bioengineered food ingredients. Neither the Chicago Board of Trade soybean futures prices nor the Tokyo Grain Exchange non-GMO soybean futures prices respond to bans. |
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