2020
DOI: 10.3390/su12197876
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Information Values on the Consumer’s Valuation of non-GM Material: The Case of Cooking Oil in Korea

Abstract: This paper analyzes the changes in consumer preference that may occur when the current Genetically Modified (GM) crops policy is strengthened by applying mandatory labeling to all processed food that uses GM crops as raw materials. We estimate the change in consumers’ willingness to pays for cooking oil before and after providing the information on GM raw material contained in the currently marketed cooking oil to consumers. To this end, a hypothetical cooking oil product using non-GM raw materials is set up, … Show more

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Cited by 3 publications
(2 citation statements)
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“…However, great care is needed so that GFs do not become just a marketing tool for companies to sponsor products of uncertain value (Rabbanee et al , 2021; Hakim et al , 2020; Sarnacchiaro and Boccia, 2018). This is why it is essential that public health authorities demonstrate clearly enough that their key interest is in public well-being, paying consideration to the logic of big profits from food, chemical and pharmaceutical companies (Zhan et al , 2021; Nam et al , 2020). Considering this scenario, it is possible to say that the case in the present study is the only one that considers a food product improved with beneficial medical substances (Waterfield et al , 2020; Xu et al , 2020).…”
Section: Resultsmentioning
confidence: 99%
“…However, great care is needed so that GFs do not become just a marketing tool for companies to sponsor products of uncertain value (Rabbanee et al , 2021; Hakim et al , 2020; Sarnacchiaro and Boccia, 2018). This is why it is essential that public health authorities demonstrate clearly enough that their key interest is in public well-being, paying consideration to the logic of big profits from food, chemical and pharmaceutical companies (Zhan et al , 2021; Nam et al , 2020). Considering this scenario, it is possible to say that the case in the present study is the only one that considers a food product improved with beneficial medical substances (Waterfield et al , 2020; Xu et al , 2020).…”
Section: Resultsmentioning
confidence: 99%
“…Nevertheless, food labelling and prior information about whether GM technology has been used in food products have an impact on consumers' willingness to buy GM food. Nam et al [3] analyzed the value of providing information on GM raw materials in cooking oil to consumers, concluding that a policy on GMO Agriculture 2021, 11, 842 2 of 18 labelling would lead to an increase in consumers' preference for non-GM. This would be more noticeable for consumers with low GM awareness.…”
Section: Introductionmentioning
confidence: 99%