Dive Summary:
- At the Annual Anti-Counterfeiting and Brand Protection Summit held in Midtown West, NY, new figures were released claiming that the counterfeiting of food products was estimated to be costing U.S. companies over $200 Billion a year.
- According to Michigan State University, the top ten most counterfeited foods ar as follows: vanilla extract, maple syrup, grape wine, apple juice, coffee, orange juice, saffron, honey, milk, and olive oil.
- Not only do these pose serious financial implications, but food safety is also a serious concern since many of these counterfeit foods have little to no safety regulations.
From the article:
Were it not for all the insects that other tenants of a private warehouse were pretty sure were coming from a neighboring space, phony âHeinzâ ketchup might now be on its way to unsuspecting consumers. Fraudulent âHeinzâ ketchup, probably intended for the world market, is but one example of âcounterfeit food.â Around the world, there are plenty of people who are willing to substitute some high value brand or product with something inferior. In the Czech Republic recently, methanol put in alcohol resulted in 30 deaths Some fear higher world food prices are making food counterfeit...
