engleski

Technology development and hidden quality in global food market

Recent activities regarding multilateral negotiations of World Trade Organization have increased food market liberalization and international trade of food products. In regard with traditional methods of production, processing and distribution in the beginning of the 20 century, using economies of scale and scope big manufactures have enabled transformation of the food system. With technological development and capital investment, global food production was expected to increase productivity and accomplish significant cost reduction. Research question of the paper aims to elaborate the connection between food technology development and hidden quality of the final product. First part of the paper gives the introduction about innovative food technology, accompanying information as well as its distribution in the food market. Second part of the paper examines the possibility that recent technology development has been responsible in creating information asymmetry and market regulation being inadequate to prevent food market inefficiency. Third part of the paper demonstrates research results conducted on the basis of 203 participants regarding food technology perception (p=, 000), government regulation (p=, 000) as well as food information asymmetry. Additionally, level of education and food expenditure were found significant regarding consumers' choice. When deciding food purchase people with lower income and lower education were found to be led primarily by price (p=, 012 ; p=, 001). It is indicated that the current supply of food could be depicted as low quality and responsible for a number of medicinal problems.

global food market; international trade; technology; quality

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