THAILAND SEES OPPORTUNITY TO EXPORT GMO-FREE FOODS
BANGKOK, Thailand -- Thailand is hoping to capitalize on the growing demand for GMO (genetically modified organisms) -free
foods, since their crops are currently free of GMO. They see opportunity among consumers in the EU (European Union) and Japan, where
GMO-free foods are preferred. At present, commercial cultivation of GMO crops is banned in Thailand (although GMO materials may be
imported for use in food processing).
While the opportunity seems ripe, there is debate about the profit potential in developing this market for export due to the costs
associated with production, testing, and distribution (i.e. storage & handling to avoid contamination). And it is still unclear what
the market potential will be for these crops. For instance, a similar growth trend was expected with regard to organic foods, but
that didn't materialize. A decade ago, organic foods were projected to become a huge market, but it is still only a niche market
representing just a couple of percentage points of the entire food production market.
Meanwhile, some countries have made significant profits by cashing in on the demand for GMO-free products. For example, when
Europe blocked imports of genetically-modified canola from the US -- a deal worth hundreds of millions of dollars -- Australia seized the
opportunity to market its purely natural canola crop (despite being among the world's top producers of GMO foods). The matter is currently
before the World Trade Organisation.
Whether the market for GMO-free crops will continue to expand is yet to be seen, especially as the benefits of genetically modified foods
become more widely expected among consumers -- having longer shelf lives, better taste and lower costs. Moreover, these new crops
could bring big financial benefits to farmers, as they may be resistant to pests and thus would not require spraying with costly chemicals.
Nevertheless, there is a present market for GMO-free crops and Thailand sees this as an opportunity.
Reader's Comments
(Source: YOUR LINK HERE)
US AND SAUDI ARABIA BEGIN TRADE TALKS
RIYADH, Saudi Arabia -- US and Saudi Arabia began trade talks this month and both parties agree that talks went well. While
no details have been disclosed, the US appears interested in investing in the world's largest oil industry, since the Saudi Oil Minister,
Ali bin Ibrahim al-Nuaimi, recently began open talks with world oil firms regarding foreign investment in Saudi Arabia's petroleum sector. Oil
has been a state-owned industry for more than 20 years in Saudi Arabia.
Besides US oil firms: Arco, Chevron, Conoco, Phillips Petroleum, Texaco,
Exxon and Mobil which have been involved in the talks, the Saudi's has also been talking with France's:
Elf Aquitaine and Total, Royal Dutch's: Shell and Italy's: ENI Group.
Riyadh is the largest oil producer in the world with production of
7.44 million barrels per day and proven reserves of 261 billion
barrels. It also has the fourth largest reserves of gas in the
Middle East.
The country is also making plans to privatize the energy, oil, gas, telecommunications and
railroads industries. New foreign investment laws will be introduced in the coming months for companies planning to
take advantage of these reforms.
The United States and Saudi Arabia have been doing business together for a long time and, in fact, the US is Saudi Arabia's
primary trade partner. Trade between the two nations was approximately US$17 billion in 1998.
(Source: YOUR LINK HERE)
WORLD POPULATION HITS 6 BILLION
WORLD -- The world population hit the symbolic six billion mark this month, according to the World Health Organization (WHO).
Of this total, nearly one billion are between the ages of 15 to 24. The global youth market is large and represents a tremendous opportunity
for youth-oriented goods and services.
(Source: YOUR LINK HERE)
NOTE: Reprints, downloads or copies of this issue are available for US$5.00 per copy,
payable on the honor system to PANGAEA.
SUBSCRIBE TO THE NEWS
Share Your Thoughts |
WORLD NEWS -- TODAY...
daily headlines and abstracts |
|---|
|
Please let us know what you think about the Interactive Global NEWSTM
newsletter. Tell us what you like or dislike about it.
Feel free to share your comments with other readers. When sending comments, please specify "IGN Comments" in the subject line.
|
Keep up-to-date on general global business news and trends as they occur --
updated 24-hours per day, 7 days a week. PANGAEA.NET
members have further access to country- and industry- specific news everyday.
TOPICS:
LAST MINUTE TRAVEL BARGAINS -- Special Discounted
Fares
American Airlines' Net SAAver and Net SAAver International offers last minute travel
bargains for travelers departing from the USA. You can schedule a last minute meeting
or a weekend getaway to selected destinations throughout the USA, Europe, the Caribbean,
Central America or South America each week and benefit from these discounted rates.
Through this program, you can fly at discounted rates, as long as you
can plan to travel on short notice. These low round-trip fares are good for travel
only on the dates specified. They expire on Fridays. Check back each
Wednesday for the week's destinations!
From Miami, FL (MIA) to:
US$319 -- Antigua, Antigua (ANU)
US$298 -- Barbados, Barbados (BGI)
US$240 -- Bogota, Colombia (BOG)
US$289 -- Curacao, Netherlands AN (CUR)
US$298 -- Grenada, Grenada (GND)
US$219 -- La Romana, Dominican Republic (LRM)
US$359 -- Lima, Peru (LIM)
US$149 -- Providenciales, Turks and Caicos (PLS)
US$159 -- San Pedro Sula, Honduras (SAP)
From New York Kennedy, NY (JFK) to:
US$199 -- Bermuda, Bermuda (BDA)
From Ft. Lauderdale, FL (FLL) to:
US$79 -- Nassau, Bahamas (NAS)
[Restrictions apply. Check with American Airlines or our
travel service group for details and
confirmation. Not responsible for typographical errors.]
International flight departures leave on Thursday or Friday, October 28 - 29, 1999 .
Thursday departures return anytime the following Monday and Friday departures return
anytime the following Monday/Tuesday.
To take advantage of these last minute bargains,
or any travel needs, Call 1-800-715-4440 and ask for a Net SAAver Domestic or
International Fare. Be sure to give the agent this PIN#: 27035 to book
your flight. Or send e-mail to
travel@pangaea.net, include your name
and telephone number, please.
You can also read the latest news about
Travel & Tourism.
|
|
.....check back for more news this month! |
|---|
