Taiwan Reviews U.S. Wheat Imports on GMO Concerns
The upheaval about the imports of genetically modified wheat has spread from Japan, where imports have been canceled, to Taiwan. It threatens to bring down wheat prices enough to undermine the financial fortunes of tens of thousands of farmers.
MarketWatch says of Taiwan's fears of U.S. wheat:
Flour millers in Taiwan are reviewing imports of wheat from the U.S. after unapproved genetically modified wheat was discovered at a farm in Oregon, industry officials and importers said Friday.
"Imports from the U.S. are under review, and we may seek a guarantee from our suppliers that only non-GM grain will be shipped to Taiwan," a member of the Taiwan Flour Millers Association told Dow Jones Newswires.
Taiwan is a major wheat importer and heavily dependent on the U.S. for its supplies, importing close to 1.1 million metric tons of U.S. wheat annually. Commercial production of GM wheat is not permitted anywhere in the world, and the U.S. is investigating the contamination at the Oregon farm.
Filed under: 24/7 Wall St. Wire, Agriculture, International Markets