Labeling will be required when a product contains a food allergen or if the nutritional composition of the product has been changed. If a food produced through modern biotechnology or any other method meets any of these criteria, it will carry a label. If a gene from peanuts were inserted into potatoes or corn, where people would not expect to find peanut allergens, then the vegetables would have to be labeled to alert sensitive consumers. Potential food allergy is an example of a health or safety risk that would mandate a product label. If the new variety is changed in a way that results in either higher or lower amounts of vitamin C, then that information would have to be disclosed.
Nutritional content is an example that relates to the product's usual composition or identity.
Any substantial changes to this expected composition will mandate a product label. If genetic engineering or any other breeding technique changed the composition of a peach so that it's not the same peach anymore, then it would have to be called something different. It would have to have a different varietal name or if the difference was extremely substantial, it may not even be called a peach any longer. The proper identity of a food product is information that must be provided in all cases. FDA invited public comment on the labeling policy because the agency understands the public holds diverse opinions about what information should appear on product labels.