Instant Noodle Sales Continue to Rise Over the Past Five Years
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According to the World Instant Noodles Association, Indonesia is the second largest consumer of instant noodles in the world. In 2021, Indonesia consumed 13.27 billion instant noodle packages.
The sales value of instant noodles in Indonesia has also been steadily increasing over the past five years.
According to Euromonitor data, in 2017 the sales value was still US$2.63 billion. It then rose to US$2.7 billion in 2018, US$2.73 billion in 2019, and US$2.92 billion in 2020.
By 2021, the value had risen again to US$3.03 billion, a 15% increase compared to the 2017 sales value.
In the first quarter of 2022, the instant noodle industry was surprised by a rise in wheat prices. The price increase occurred due to the military conflict between two major global wheat exporters, Russia and Ukraine.
President Jokowi also recently warned again that noodle prices could potentially rise.
"We import a huge amount of wheat, so be careful those who like bread and noodles. The price could increase," Jokowi said in his press statement on Thursday, July 7, 2022.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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