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TAIPEI: Taiwan's food crisis continues to snowball as more products have tested positive for DEHP. Food makers are hit the hardest with recalls and falling sales.
Authorities estimate the economic losses should be contained within 20 per cent of Taiwan's food market but analysts fear this is only the tip of the iceberg.
First, it was sports drinks, then food and now drugs are contaminated as well.
In three weeks, some 1,000 products have been found to be tainted with plasticiser. And the number keeps growing.
Ms Hsu, spokesperson for Yu Chang International Food Technology, said: "We sent our products for testing on May 27. When the results came back on June 7, that's when we realised our products were tainted."
The crisis has dealt a big blow to Taiwan's food industry. It is expected to suffer over US$500 million in losses, or 20 per cent of its total revenue.
But analysts said the damage has gone beyond just food. They fear Taiwan's fledgling bio-technology sector could be hit the hardest in the future.
Masson Li, Project Vice President with Taishin Securities Investment Advisory, said: "There are no big names in Taiwan's bio-tech industry as of yet, so the impact of plasticiser contamination could easily destroy all the brands, whether they're good or bad."
The industry is currently valued at about US$2.5 billion.
Another sector that has yet to feel the full brunt - tourism. This, especially after some vendors in Taiwan's iconic night markets have been found to use plasticiser in drinks. Some have already seen business drop in the past week.
Mr Li said: "What the Taiwan government should focus on is to build a tracking system for food products sold in the night markets. If not, Taiwan's renowned night markets will suffer and this will hurt tourism."
Analysts fear this could have an adverse impact on Taiwan's tourism industry, which is worth US$14 billion.
But even as the food scandal escalates, the damage has gone far beyond what money can measure.
The economic losses from the food crisis may be significant, but what is more worrying is the health of all the residents living on the island, who have been exposed to the toxin for as long as 30 years.
-CNA/ac
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