By: Central News Agency
Taipei, Jan. 10 (CNA) Taiwan is set to see retail sales of food and beverages reach a record high in 2015, recovering from the meager growth caused by a series of food safety scandals in 2014, the Ministry of Economic Affairs said. The ministry made the projection based on the retail sales of food, beverages and tobacco between January and November 2015, which grew 2.9 percent year-on-year to NT$432.6 billion (US$12.93 billion).
Food, beverages and tobacco are calculated in the same category because they are seen as one sector under Taiwan’s Standard Industrial Classification System, although tobacco sales only accounted for 1.6 percent during the 11-month period, the ministry noted.
Meanwhile, food and beverages accounted for 76.2 percent and 17.2 percent of the sales, respectively, during that period.
The 2.9 percent growth showed businesses have recovered from the food safety scandals that impacted sales during the fourth quarter of 2014, dragging down annual growth that year to 0.8 percent. [FULL STORY]