Genetically Modified Wine-New Economic Issue

P. PLAHUTA¹, A. KUHAR², P. STANOVNIK³ and P. RASPOR⁴
¹Zalog 14, 6230 Postojna, Slovenia
²Universtity of Ljubljana, Biotechnical Faculty, Groblje 3, 1230 Domzale, Ljubljana, Slovenia
³Institute for Economic Research, Kardeljeva ploščad 14, SI-1000 Ljubljana, Slovenia
⁴University of Ljubljana, Biotechnical Faculty, Jamnikarjeva 101, SI-1000 Ljubljana Slovenia

Abstract

PLAHUTA, P., A. KUHAR, P. STANOVNIK and P. RASPOR, 2007.Genetically modified wine-new economic issue. Bulg. J. Agric. Sci., 13: 449-458

The aim of this paper is to evaluate the potential influence of genetically modified organism (GMO)-vine resistant on Grape Fan Leaf Virus (GFLV)-on international wine economy. The research has been based on some presumption and literature's data. The European community which is the biggest wine economy around the world has been taken as a model. The mass introduction of nowadays known GMOs in EU winemaking will supposedly change the prices of wines, EU consumer's surplus, EU wine producer's surplus, the surplus of rest of the world wine producers (ROW) and rest of the world consumer surplus.

Key words: Wine, market, elasticity, genetically modified organisms (GMO), economy
Abbreviations: EU - European union, ROW - rest of the world, P - price, Q - quantity, Z - relative price difference, K - relative price reduction, S - supply, C - consumption, k - vertical shift of supply function, η - demand elasticity, ε- supply elasticity

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