The Ministry of Commerce has officially approved the increase of instant noodle prices from six baht to seven baht per pack, effective on Thursday, August 25th.
Wattanasak Sueaiam, director-general of the Department of Internal Trade, revealed on Wednesday, August 24th, that the ministry has initially granted three major instant noodle manufacturers – Thai President Foods for MAMA brand, Thai Food Products Factory for Wai Wai brand, and Thai Wan Food Industry for YumYum brand – to adjust their selling price of not more than one baht per pack.
The other two prominent companies, including Nissin and Suesat, are in the process of considering production details by the authorities. This marks the first price increase for the first time in 15 years following companies’ outcry due to significant material and production costs.
However, the Department of Internal Trade stipulated that manufacturers must constantly report material costs to the Department. If the costs were decreasing, the manufacturer would be requested to lower their instant noodle price.
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