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Last Updated : Jun 09, 2015 10:33 AM IST | Source: Moneycontrol.com

Nestle gains 2%, Maggi meets Singapore's food safety norms

Shares of Nestle India snapped four-day losing streak on Tuesday, rising more than 2 percent after its Maggi noodles manufactured in India met Singapore's food safety standards. The stock lost nearly 19 percent in previous four sessions.

 
 
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Shares of Nestle India snapped four-day losing streak on Tuesday, rising more than 2 percent after its Maggi noodles manufactured in India met Singapore's food safety standards. The stock lost nearly 19 percent in previous four sessions.


Agri-Food and Veterinary Authority of Singapore (AVA) had taken samples of the noodles for testing after India's food safety regulator said last week that laboratory tests found "overwhelming evidence" that Nestle India's Maggi instant noodle products are "unsafe and hazardous" for human consumption.


After tests AVA said these noodles meet Singapore's safety standards, Channel News Asia reported.

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Nestle India had earlier announced a recall of its Maggi noodles across the country. Singapore does not import Maggi brand oat products produced in India, which were the noodles cited to contain excess lead and high levels of MSG. AVA had told Singapore importers of India-manufactured Maggi noodles to withhold sales of the products temporarily, while it did lab tests.


AVA stressed that it regularly samples imported food products, including Maggi instant noodles and oat products, to ensure compliance with safety standards. "Our sampling tests cover a wide range of hazards known to be associated with food. Food products that fail our tests will not be allowed for sale," a spokesman said.


At 09:37 hours IST, the scrip of Nestle India was quoting at Rs 5,651, up Rs 111.20, or 2.01 percent on the BSE.


(With inputs from PTI)



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First Published on Jun 9, 2015 09:55 am
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