Did Monsanto Company (MON) Just Ruin the Economy?

In the wake of the discovery of this supposed rogue GMO strain, Japan began canceling wheat imports, and so did South Korea. Both Taiwan and Europe are stepping up their monitoring of imports with an eye toward suspending them if genetically modified wheat is found. With 90% of the wheat from Oregon, Washington, and Idaho earmarked for export, the emergence of a GMO strain could cripple the market for it and, thus, the economy.

While officials immediately proclaimed it an isolated incident, how do they know that? They can’t even say how it got into the field in the first place, but we’re supposed to believe it’s not widespread.

While Monsanto speculates it could be “sabotage,” with the toothpaste out of the tube, it’s easy to devise an equally sinister explanation, one that actually benefits Monsanto. Sure, foreign countries would initially reject U.S. exports of GM wheat; but where would they turn to make up half of the world’s supply? And when it becomes a choice of feeding their people or starvation, it may ultimately lead to acceptance of genetically modified wheat. And once that happens, Monsanto controls the world’s wheat supply. Tinfoil hat brigade stuff to be sure, but no more outlandish than Monsanto’s supposition.

Despite assurances that GM foods are safe to eat, this latest incident underscores why it’s so important that such foods are labeled that they’ve been altered at the molecular level. Individuals should have a choice as to whether they ingest GM foods or not, but Congress has seen fit to protect Monsanto at every turn by keeping consumers in the dark.

When it comes to the nation’s bread basket, this country’s wheat supply and its economy need to be saved from Monsanto.

The article Did Monsanto Just Ruin the Economy? originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

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