'Fo Tiao Qiang Index' jumps 6 percent
The China Post news staffTAIPEI, Taiwan -- Taipei yesterday released its “Fo Tiao Qiang Index” (佛跳牆指數) to gauge commodity prices during Chinese New Year.
January 16, 2013, 12:00 am TWN
Fo tiao qiang, also known as “Buddha jumps over the wall,” is a traditional Chinese soup made with 10 ingredients, including pork, sea cucumber, taro, chestnuts, chicken and mushrooms. It is generally served during Chinese New Year.
According to Taipei's Department of Economic Development, the index currently stands at 106 — up by 6 percentage points from last year.
Taipei Mayor Hau Lung-bin (郝龍斌) said that the city government will continue to monitor prices in order to protect the rights of consumers.
According to local reports, with the exception of Chinese dates and chestnuts, Fo Tiao Qiang ingredient prices have largely risen.
Despite the Fo Tiao Qiang Index increase, several of the major restaurants, hotels and convenience stores in Taipei say that their soup prices have not increased this year.
Depending on the ingredients used, fo tiao qiang ranges from several hundred to several thousand New Taiwan dollars. Businesses say that those priced at NT$300 and below have been the most popular with consumers.
Palais de Chine Hotel recently introduced its NT$8,800 fo tiao qiang, which is made with shark fin.
7-Eleven, on the other hand, said that it has launched its very first single-portion fo tiao qiang priced at NT$199, adding that the soup is seeing tremendous popularity among consumers.