Nestle to burn $50 million worth of noodles

    Maggi may be banned in India

    New York (TIP): Nestle has issued multiple statements some contradicting their own top executive in the last few days. It is yet to be ascertained whether Nestle’s decision to burn Maggi packets recalled from the Indian Market & in its factories is a result of the Indian ban or Australia’s suspension of import from India.

    As per Nestle’s global website, Nestle India currently exports small quantities of Maggi noodles to the US, Canada, UK, Australia, Singapore and Kenya.

    Nestle has said it will burn $50 million worth of Maggi noodles in concrete incinerators after they were banned by India’s food safety regulator for containing too much lead.

    The food regulator has accused Nestle of not complying with food safety laws.

    Nestle continues to insist that the noodles are safe and that the ban is the result of issues with the interpretation of the law.

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    It has however started to recall the product and burn it in incinerators at five cement factories across the country.

    According to the Indian paper AFP live, Nestle has 8 factories across India, five of which produce Maggi noodles.

    Nestle has 38 distribution centres, where products are stored before being sent to distributors

    63 Percentage of the noodle market owned by Nestle. Nestle dominates the Indian noodle market, according to Euromonitor. Nestle has been the market leader there since 2009.

    Almost 28,000 tonnes, or $32 million-worth, of Maggi noodles were in the market on June 5, when the product was decided to be recalled. Another $17 million-worth of noodles are still in factories.

    50 million dollars-worth of noodles will be burned. “These are broad estimates because it is impossible to calculate the final figure while the withdrawal is taking place,” Nestle said. It added that additional costs from bringing stock to the market and transporting it to incinerators to be destroyed had not yet been accounted for.

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