Instant Noodles Manufacturers Demand For Palm Oil in China - A Snapshot of This Important Sector
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by Desmond Ng
According to the World Instant Noodles Association, sales of instant noodles in China grew at double-digit rate annually between 1992 and 2010 for 18 years, and then reached its peak in 2013, which surpassed 46.2 billion packets - that is 1,465 packets of instant noodles opened every second! However, this seemingly growing market in China suddenly witnessed a drop in sales for 3 consecutive years and by 2016, sales had dropped to 38.5 billion packets, and of course all the instant noodle companies were feeling the pinch with almost 17% sales decrease.
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