Wednesday, April 16, 2008

Japanese Food Maker Starts Buying Genetically Modified Corn

Nihon Shokuhin Kako Co. Ltd., Japan's largest buyer of corn for use in food, is importing genetically modified supplies for the first time this year as high prices deter gene-pure purchases, a company executive said.
The Tokyo-based company plans to process 250,000 metric tons of U.S. GMO corn in 2008, signaling a change in policy on corn procurement, Mikio Shoji, director at Nihon Shokuhin Kako, said in an interview. The company, a subsidiary of Mitsubishi Corp., is the biggest of 11 Japanese corn-starch makers and buys more than 750,000 tons of the grain annually.
Food makers in Japan, the world's largest corn importer, pay a premium for non-modified supplies because of consumer concerns that GMO varieties may not be safe.
 
Corn prices have risen 56 percent in the past year and reached a record $6.16 a bushel in Chicago on April 9.
``We have no choice but to use GMO corn, as the grain is becoming increasingly costly and the price differential between GMO and non-GMO supplies is widening,'' Shoji said April 11.
 
 

Posted by Peacedream

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