Finally Instant Noodle Prices Go Up And It Happens In Thailand

Photo by Mae Mu on Unsplash

JAKARTA - The Ministry of Trade is preparing to increase the price of Thai instant noodles. Just so you know, this is the first price increase for daily basic necessities in 14 years.

Quoted from Channel News Asia, Wednesday, August 24, Thailand's economy has yet to bounce back after fully reopening to tourists earlier this year. But they have also been hit by 14 years of high inflation and the economic impact of the Russo-Ukrainian war.

The price of instant noodles is capped by Bangkok at 6 baht (US$0.16) per packet. But big producers are screaming and urging the government to raise the limit to 8 baht, citing soaring costs.

The government finally agreed to an increase, but only 7 baht per regular-sized package, effective August 25.

The news comes after Thailand's five major instant noodle producers - Wai Wai, Mama, Yam Yam, Sue Sat, and Nissin - petitioned the department.

"We are facing rising commodity prices, oil prices for exports," explains Veera Naphaprukchart of Thai Preserved Food, part of the popular brand Wai Wai.

Wheat flour prices rose about 20 percent to 30 percent and palm oil prices doubled, he said.

Veera blamed the rising costs on Russia's invasion of Ukraine, which was a major supplier of grain to the kingdom before the conflict.

Pipat Paniangvait, from Thai President Food, said that the last time the price of instant noodles went up was in 2008.