|
Prompted by a surge in wheat prices around the world, the price of flour in Korea has taken a sharp rise. Instant noodles, breads and other foods that use flour as a main ingredient are also likely to see price hikes, too.
CJ Corp. on Friday said it would raise retail prices of flour products by 13 to 15 percent. The price of 20 kg of hard flour, used to make breads, and medium flour, for noodles, will increase by 13 percent, from W12,760 to W14,410 and W12,030 to W13,640, respectively (US$1=W915). Soft flour, which is used in cookies and cakes, will go up by 15 percent from W11,360 to W13,060.
"Contrary to the steady rise of global food demand, Europe, Australia, and other major exporters have dropped wheat production, causing raw wheat prices to more than double in just one year," CJ Corp. said.
The global wheat supply was hard hit by weather woes, namely heat waves that scorched Eastern Europe and the former Soviet regions, torrential rains in Europe during the harvest season, and drought in Australia.
(englishnews@chosun.com )
|
