Price of instant noodles to rise 20%

Prices for instant noodles, the most popular convenience food in China, will increase nationwide due to dramatic increases in the cost of raw materials and product improvement, Beijing Times reported (in Chinese). Sources from the World Instant Noodle Association China Branch said that prices will rise beginning tomorrow at an average rate of about 20%, with the highest hike to be around 40%. The newspaper said prices of high-end instant noodles processed by overseas companies, such as Master Kong from Ting Hsin International Group and President made by Uni-president Enterprises Corp, have already climbed from last month, and that further price increases will mainly come in locally made medium- and low-end noodles.