As consumers, we have a right to know if our food has been genetically modified, and this should be labeled on our food. End of story.
"A genetically engineered food is a plant or meat product that has had its DNA artificially altered in a laboratory by genes from other plants, animals, viruses, or bacteria, in order to produce foreign compounds in that food. This type of genetic alteration is not found in nature, and is experimental. The correct scientific term is "transgenics," and is also often referred to as (GE) genetically engineered.
The Health Risks of Genetically Engineered Foods Are Unclear. Unlike the strict safety evaluations required for the approval of new drugs, the safety of genetically engineered foods for human consumption is not adequately tested.
There have been NO long-term studies conducted on the safety of genetically engineered foods on humans." From
http://www.labelgmos.org/
Additionally, there are significant restrictions or outright bans on GMO's in more than 50 countries including Germany, UK, Spain, Denmark, France, China, Russia, Poland, Japan, Mexico, Brazil, Australia, Italy, Saudi Arabia, and South Korea.