Why One Of Australia's Best Foods Price Will Increase
It’s a staple of everyday life for Australian’s, but it could be jacked up in price because China is falling in love with them too.
That’s right! We are taking about Weetbix.
It’s gaining popularity in China after appearing on a soap opera called ‘Ode To Joy’ in May, around a billion people have seen the episode of the show where a family member eats the cereal from a bowl.
It has lead to Chinese consumers paying as much as $50 a box to Australian based iagou, companies that have been buying "green and clean" local produce including baby formula and vitamins, and exporting them to Asia.
A spokeswoman for Weet-Bix has said the prices for the re-named Nutri-Brex in China were expected to be comparable to those that Australian families pay.
Sanitarium said breakfast cereal sales in China increased by approximately 50 percent in the past financial year.
The only difference between the products in China is the name, Sanitariums general manager Todd Saunders said "Nutri-Brex is made in the same factories, using the same ingredients and the same traditional recipe that Sanitarium has used for almost 90 years."
"It's the same name that we use for Weet-Bix in the UK, our second biggest export market," he said.
"Despite the recent success we've enjoyed, it is still relatively early days for Sanitarium in China." he said.
Nutri-Brex will be positioned in China as a healthy breakfast choice.