Lots of news today on the anti-GMO front. NASDAQ notes that the right-to-choose movement is gaining strength and may be negatively impacting Big Food Stocks:
Companies like Monsanto — the dominant producer of most genetically modified corn, soybean, and cotton seeds — see its revenues tied to extreme weather conditions that affect crop yields, not consumer sentiment. In fact, analysts predict a rise in corn seed pricing in fiscal 2014, which will likely lead to higher Monsanto revenues. Yet when Monsanto slipped below its 200-day moving day average of $97.94 in late May, following the announcement of this fall’s “March Against Monsanto,” scheduled for October 12, 2013 in 250 cities and 36 countries, some analysts said that the drop was a result of the extreme negative sentiment. Others pointed to the fact that it was also a time when the market as a whole was weak. Either way, the stock never recovered and is currently trading at around $95.10 as of August 15. Some predict that momentum has weakened in the face of negative press, which continues to escalate. The company is also subject to a court ruling against it in Brazil where it stands accused of overcollecting royalties. Currently the decision is under appeal, but if it fails, the case could result in a $2 billion payout due for restitution.
WHOtv.com airs information on the Organic Consumers Association petition to the Food and Drug Administration requesting a ban on the labeling of genetically modified foods as natural:
OCA Director Ronnie Cummins says the FDA has for far too long dodged its responsibility to define the term “natural” as it applies to food products. In his opinion, recent class action lawsuits, such as the July legal settlement where Pepsi agreed to remove the all-natural labels on its Naked Juice line of beverages, make it clear consumers are tired of being misled by food manufacturers. OCA says FDA should now make it unlawful for food manufacturers to label genetically modified products as natural. The FDA hasn’t developed a legal definition for a natural food, and its website says FDA has not objected to the use of the term if the food does not contain added color, artificial flavors or synthetic substances.
Voice of America posted a video on the progress of the “Fishy Food” cars that have taken the anti-GMO campaign on the road:
Opponents of genetically modified organisms are gaining ground in state legislatures around the United States. Advocates who want foods made with GMO ingredients to say so on the label scored victories in Connecticut and Maine this year. Facing a growing consumer backlash, the makers of GMOs are pledging to release an avalanche of data that they say should ease concerns about their safety. But they’re facing an energized opposition ready to fight in the statehouse, and on the road. VOA’s Steve Baragona has more.