This is probably going to get me re-banned in China… But. who knew you could have collusion and price fixing in the ramen industry? I happened across this story from last week in China about the rising prices of ramen, which may be the result (according to some) of collusion and price fixing. Notable things from the story:
“… a packet of instant noodles rose by an average of 20 percent last week, which sparked more public concern over rising food prices in China.”
“China makes 51 percent of all instant noodles in the world with more than 46 billion packets produced last year.”
I’m not sure how much of the Chinese ramen is exported to the US, but I would guess its a fair amount given that 51% statistic (although China itself is a huge market).
I actually found this on the China Law Blog, so thanks to them for the tip.