Forwarded from the SC Biotech Forum.
Tom

Subj:         UK Organic Food Market Seen Growing by Two-Thirds to 2003
Date:   01-05-25 11:59:25 EDT
From:   [log in to unmask] (Laurel Hopwood)
Sender: [log in to unmask] (Biotech Forum)
Reply-to:   [log in to unmask] (Biotech Forum)
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UK Organic Food Market Seen Growing by Two-Thirds to 2003
by Stuart Wallace
London, 5/24/01 (Bloomberg)
edited

U.K. sales of organic products will grow by two-thirds to 1 billion pounds
($1.4 billion) by 2003, according to a survey by a retailers association.
Sales may also increase as the range of organic produce widens, according
to the Institute of Grocery Distribution, whose members include Tesco Plc,
J Sainsbury Plc and Wal-Mart Stores Inc.'s Asda. Prices should drop mainly
because of increased efficiency, larger production and more organic farming.

Global retail sales of organic food were worth at least $17.5 billion last
year, up two-thirds from $10.5 billion in 1997, according to estimates from
the International Trade Center in Geneva. The total is expected to grow
annually by as much as 20 percent during the next three to five years, the
ITC said.

The expected growth in organic sales is part of a backlash against
industrial farming methods.

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