May 12, 2014
A new study by a Cornell University researcher has determined that a proposed label for genetically modified organisms (GMOs) would force New York consumers to pay $500 more for their annual family food bills.
William Lesser, an applied economics and management expert at Cornell, noted that “the figures presented here are estimates, as no one knows how consumers and the food industry will react if labeling is mandated.” But they added: “What is certain is that there will be notable costs, and most of those costs will be reflected in higher food costs in N.Y. State.”
Multiple GMO mandates by individual states would likely drive up the retail cost of food even more. A summary of his research is available at http://dyson.cornell.edu/people/profiles/docs/LabelingNY.pdf.