How widespread is counterfeit food ?

An article in the New York Times (June 26,2013) describes counterfeit foods such as vegetable oil in chocolate bars, peanuts in almond powder, water in olive oil, liquor marketed as tequila, engine oil in olive oil, nonbranded vodka sold as branded product etc. It cites a report from the US Grocery Manufacturers Association estimating the cost of counterfeit to be $10 to $15 billion. The global nature of this fraud includes using foreign languages in signs to get consumers to feel that they got a good deal because of the imported product. Given that the rising counterfeit product reflects lower purchasing power in many communities, how should this be monitored in the supply chain – should the retailers who sell be held responsible or the manufacturers whose brands are compromised ? Should new technology to verify that products are genuine be required to be installed so that retailers and consumers can confirm identity ? How much of a role should regulators have to monitor the spread of counterfeit items ?

About aviyer2010

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