Based on our presentation on behalf of IFPRI at the UN Food and Agriculture Organization (FAO) Technical Conference on the Low Levels of Genetically Modified Crops in International Food and Feed Trade held March 20-21, 2014 in Rome, Italy and based on responses from different stakeholders, we felt necessary to share not only the presentation but also our comments to the slides and additional information about the presentation.
To move forward one has to examine different policy options, their consequences and the variables that affect different policy outcomes. In our work while examining the impact of LLPs and other regulatory issues, we have focused our analysis measurements of the impact of polity options on economic welfare. Defined in most cases in terms of prices, quantities demanded/supplied/traded and the distribution of gains/losses amongst market players.
As we will see later, we have used a fairly standard economic focus, in part due to lack of data for key issues and have used relatively –yet deceptively – simple economic models. Notwithstanding these issues and limitations, this work has explored different methods and research validation approaches to ensure data robustness.
In the specific case of LLPs we have identified three distinct issues that can be relevant to identifying polity options. These are not the only issues that may be considered, these are the ones we have identified as more relevant.
These are the potential risk and price of the product and the cost of enforcing the regulation.