Reuters | December 27, 1999
CHICAGO - Mike Singer, an agricultural economist at the U.S. Federal Reserve Bank was cited as saying in a quarterly letter on the farm economy that the use of genetically modified (GMO) crops in the food system will likely increase handling and processing costs and retail food prices to some extent, a economist and that GMO crops hold great promise to improve the environment and better human health, but adding, "However, concerns over the safety of these foods and the environmental impact of genetically enhanced crops have risen dramatically in recent months. Though it seems highly unlikely that the continued development and use of these products will be banned, labelling and perhaps additional regulation may increase costs in the food system and, ultimately, affect retail food prices."
Singer was further cited as saying that given the level of consumer concerns and their effects this year on food processors, it was likely that next year's GMO crops in the U.S. will have to be segregated, tested, labelled and further regulated the food chain, adding, "The problem today is one of infrastructure, i.e. most farmers, handlers and processors are not prepared to segregate grain. ... Complete segregation may be all but impossible."
