Premium for non-GM canola
Lyndal Reading
Weekly Times (Australia)
March 23, 2011
http://www.weeklytimesnow.com.au/article/2011/03/23/310631_grain-and-hay.html

ANTI-GM groups say a $30-$50 a tonne premium for conventional canola is proof the world doesn't want genetically modified grain.

However, marketers say the price difference is simply due to international market forces.

Bulk handler and marketer CBH reported a non-GM premium of up to $50 a tonne, while prices from GrainCorp show a premium of about $40.

Gene Ethics director Bob Phelps said a $50 a tonne premium was a strong signal from local and overseas markets that most shoppers rejected GM foods and would pay higher prices to avoid them.

"The European Union is the strongest buyer at a $50-a-tonne premium, and over 90 per cent of last season's West Australian canola crop went to Europe," Mr Phelps said.

AWB head of oilseeds and pulses trading, Francois Darcas, said much of Australia's crop was being sold to the EU instead of Asia because the EU was paying a premium.

Mr Darcas said the EU wanted non-GM canola while Asia "didn't care."