02 Nov '11, 4am

The price of white truffles has doubled to €3,000 per kg in just one week

The price of white truffles has doubled to €3,000 per kg in just one week

White truffle. -- ST PHOTO: BENJAMIN NG ROME (AFP) - With stocks in Milan in freefall, it's good to be reminded that some values in Italy are shooting up. The price of white truffle has doubled to 3,000 euros (S$5,300) per kg in just a week. Truffle hunters say the increase is due to low average rainfall in areas where truffle is found, as well as higher demand - particularly from buyers in Asia where truffle tastes have taken off, Italian news agency ANSA reported. The price is now at around 3,000 euros for large truffles and some 2,500 euros per kg for smaller tubers - far higher than last year. Italian stock markets are sharply down this year, and on Tuesday they dropped by more than seven per cent amid fears over Europe's debt crisis.

Full article: http://www.straitstimes.com/BreakingNews/World/Story/STIS...

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