- By Team TBSx3
- Posted 13 December, 2016
FOOD INDUSTRY SAFETY
The now infamous baby formula scandal in China in 2008 had an estimated 300,000 victims with over 54,000 babies hospitalised. Melamine contamination has also been detected in eggs sold in China.
Australian agricultural products enjoy a “clean, green and safe” reputation in China. This means the produce such as Australian meat, wine, and milk can sell at significant premiums.
Sadly, those higher prices mean our products then become prime targets for product counterfeiters.
Measures such as ID labelling of shipping containers and placing SMS checkable bar codes on cans have been implemented. These protective attempts have merit, but they lack the versatility and integrity of a Blockchain solution to the problem.
It is not just the lost sales that pose a significant financial threat to exporters. If fake products damage the reputation of a particular brand or product the result will be immense and on-going losses. This is a two-way threat.
The United Kingdom Food Standard Agency suspects that fraud could affect up to 10 percent of food imported into the UK.
There is also a problem with fake alcohol being sold in the U.K.
The links between transnational organised crime, money laundering and counterfeit goods is well recognised by law enforcement.
The UNDOC has estimated that counterfeit sales worldwide are in excess of $250 billion per year. The range of products that are affected is startling.