Commodity prices push European policies
نویسنده
چکیده
The recent soaring cost of many basic foods worldwide has forced a new focus on many areas of policy and in Europe the issue of genetically modified crops has attracted renewed media and wider interest. The reason is that the European Union has proved resistant to almost all perceived or promoted advantages of GM crops. Environmental groups opposed to the technology gained early advantage because of its promotion by international conglomerates whose motive was seen as profit rather than consumer or environmental benefit. " GM technology permits companies to ensure that everything we eat is owned by them, " claimed British campaigner George Monbiot. And many European retail businesses have been quick to perceive that they can win consumers with the label 'GM-free'. But Europe is now out on a limb as many other countries have happily taken up GM crop varieties; for example, GM soya is grown throughout America and Asia where it causes little concern amongst people basically for the reason that no one has died because of eating GM food. Europe's concern with environmental issues has seen much lower priority elsewhere. The first genetically modified seeds for commercial use were planted in the US 12 years ago. By 2006, genetically modified crops were grown on 102 million hectares worldwide — an area almost the size of Germany and France combined. Soya, maize, cotton and rapeseed account for almost all GM crop production. The countries with the largest areas of GM crops are the US, followed by Argentina, Brazil and Canada. China and India are also increasing rapidly their cultivation of GM cotton. Last year, the area under GM crops grew by 12 million hectares, the majority of which was GM maize. In the US, GM soya and cotton production now provides around 90 per cent of total production, and GM maize varieties increased from 61 to 73 per cent of total production. But, within Europe, the first generation of GM crops have been seen as a pretty unattractive bunch. They mostly comprise crops that are either herbicide resistant, so growers are able to use weedkillers in the fields, which was not previously possible, or they contain systemic insecticides, which reduce pest damage. Such traits have been seized upon by environmental campaigners. In the EU only one GM maize variety is cultivated on around 110,000 hectares in Spain, France, Czech Republic, Portugal, Slovakia and Germany. European resistance is …
منابع مشابه
Option Pricing on Commodity Prices Using Jump Diffusion Models
In this paper, we aim at developing a model for option pricing to reduce the risks associated with Ethiopian commodity prices fluctuations. We used the daily closed Unwashed Lekempti grade 5 (ULK5) coffee and Whitish Wollega Sesame Seed Grade3 (WWSS3) prices obtained from Ethiopia commodity exchange (ECX) market to analyse the prices fluctuations.The natures of log-returns of the prices exhibit a...
متن کاملDiscussion of “Food Price Pass-Through in the Euro Area: Non-Linearities and the Role of the Common Agricultural Policy”
The link (or lack of link) between food commodity prices and consumer prices is an important issue not only for academics but also for policymakers. This paper asks how and to what extent changes in food commodity prices spill over to consumer prices, using a new data set for the euro area as well as a new empirical approach. The authors find that there is a statistically significant link betwe...
متن کاملEffects of U.S. Macroeconomic Shocks on International Commodity Prices: Emphasis on Price and Exchange Rate Pass-through Effects
Using a structural VAR with block exogeneity, diagonality and identifying restrictions, this paper analyzes: first, the macroeconomic linkages among the oil price, U.S. output, interest rate, money supply, general price level and exchange rate and second, the relationships of the macroeconomic variables with the price indices of ten international nonfuel commodity groups. By assuming the block ...
متن کاملThe Co-movement between Output and Prices: Evidence from Iran
This paper employs a multivariate dynamic conditional correlation GARCH model, which is developed by Engle (2001, 2002), to detect the timing and nature of changes in the comovement between Iranian output and prices for the periods after Iran–Iraq war , known as imposed war . The results showed that there is a weak correlation between output and prices after imposed war and varies periodically...
متن کاملMultiechelon Procurement and Distribution Policies for Traded Commodities
W consider a firm that procures and distributes a commodity from spot and forward markets under randomly fluctuating prices; the commodity is distributed downstream to a set of nonhomogeneous retailers to satisfy random demand. We formulate a model that allows one to compute approximate, but near optimal, procurement and distribution policies for this system, and we explore the value of the com...
متن کاملImperfect Markets and Commodity Prices Under Demand Pull
This paper presents a theoretical view of imperfect market. It concludes that an increase in the price of products does not give any incentive to increasing production which shows the mechanism for upward trends in prices.
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید
ثبت ناماگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید
ورودعنوان ژورنال:
- Current Biology
دوره 18 شماره
صفحات -
تاریخ انتشار 2008