Emerging Markets for GM Foods: A Study of Consumer's Willingness to Pay in India
AbstractA random utility approach is used to estimate logit equations which indicate what factors affect the likelihood of consumption of non-GM and GM foods, and, whether or not consumers are willing to pay a premium for non-GM/GM foods. Ceteris paribus as the price difference between non-GM and GM food rose, people were more likely to consume GM foods. Likelihood of GM food consumption was higher in the middle income brackets. Consumers were willing to pay an expected premium of 19.5% and 16.12% for golden rice and GM edible oil respectively. In case of chicken, consumers seemed to pay a very negligible premium for non-GM fed chicken. Overall, it appears that GM foods may be acceptable in the Indian market. However, basic awareness about the GM foods may have to be created among the consumers through government ministries, consumer interest groups, and biotech food-crop companies.
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Bibliographic InfoPaper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida with number 6348.
Date of creation: 2008
Date of revision:
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More information through EDIRC
GM Foods; Golden Rice; Bt cottonseed oil; GM fed chicken; Willingness to Pay; Random utility approach; Logit; India.; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Q13; D12;
Find related papers by JEL classification:
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
This paper has been announced in the following NEP Reports:
- NEP-AGR-2008-11-18 (Agricultural Economics)
- NEP-ALL-2008-11-18 (All new papers)
- NEP-CWA-2008-11-18 (Central & Western Asia)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- James, Sallie & Burton, Michael P., 2003.
"Consumer preferences for GM food and other attributes of the food system,"
Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 47(4), December.
- Sallie James & Michael Burton, 2003. "Consumer preferences for GM food and other attributes of the food system," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(4), pages 501-518, December.
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