Houston Community News >> Instant Noodle Prices Rises
7/26/2007-- Amid spiraling food
costs, Chinese authorities are concerned about a sudden spike in the price of
instant noodles – one of the nation's most popular dishes – state press reported
yesterday.
The price of a packet of instant noodles has jumped an average 20% this week,
and by as much as 40% in some cases, as manufacturers pass on the cost of a
general rise in ingredients.
“We have noted the recent price rise of instant noodles and are keeping a close
eye on this development,” an unnamed official with the commerce ministry was
quoted as saying by the Shanghai Securities News.
China produced 46 billion packs of instant noodles last year, accounting for 51%
of the world's production, according to the newspaper.
Thirty billion packets of noodles, costing the equivalent of around five to 35
cents (17 sen to RM1.20), were eaten in China last year, an average of about 23
packets for each person.
Experts said the spike in the instant food was mainly triggered by the increase
in costs of raw materials such as palm oil and meat, the newspaper said.
Food prices in China soared 11.6% last month, pushing the overall inflation rate
to 4.4% for the month and sparking nervousness from the government, which wants
to keep inflation at or below 3%.
(Contributed by AFP)