Food group slammed for price collusion

The national price regulator yesterday lashed out at a food association for colluding with its member companies to manipulate prices.

The China branch of the International Ramen Manufactures Association (IRMA), which is also referred to as the China branch of the Instant Noodle Association by the media, had since last year organized three meetings to discuss price rises, according to a statement on the website of the National Development and Reform Commission (NDRC).

The timetable and scope of the price rises were worked out during the three meetings, the statement said.