Nanotechnology, No Free Lunch

Summary

Nanotechnology is the new science and technology of the super small. Particles at the nano-scale, from one to one hundred billionths of a metre, exhibit novel properties. Nanotechnology is an active area of research and rapid commercialization. The food industry has been targeted as a potential recipient of this new technology and engineered nanoparticles are reportedly already in some super-market products. Nanotechnology is currently unregulated, and there are no requirements for mandatory labelling, this leaves consumers unprotected and uninformed. Consumers are largely unaware of nanotechnology, expect labelling on nano-products, are unclear of the cost/benefit balance, and express an unwillingness to purchase nanofood. The asymmetric information status of nanotechnology, together with its undetermined safety, raises issues, opportunities, and risks for food manufacturers and retailers. Some local organic food standards, including AUstralia and UK, have nanotechnology exclusions in place.