The iconic Australian cereal is being cleared off supermarket shelves, as Chinese consumers are paying as much as $50 a box.
Similar to the baby formula scandal, which led to nationwide shortages and thousands of tins shipped to China, Weet-Bix is being bought in bulk and on sold online at huge marked up prices, News Corp reported.
On the website Yoycart, the ‘black market’ breakfast is listed as high as $US39 ($AUS51) for a 1.4kg box, while 1kg packs go for $US28 ($36).
The Australian-owned cereal sells for $5 at Coles for a 1.4kg value pack.
The demand for Weet-Bix is reaching preposterous proportions, with shoppers allegedly buying trolleys full of the wheat-based cereal.
While buyers were restricted to four tins of Baby formula per customer at Woolworths, Weet-Bix is yet to receive such regulation.
China is reportedly the biggest export market for the popular food company Sanitarium Health and Wellbeing Company.