The Department of Internal Trade allowed three manufacturers of instant noodles to raise their prices by one baht to seven baht per packet on Aug 25. It is the first price rise in many years.
Wattanasak Sueaiam, director-general of the department, said it approved the price rise for Thai President Foods Plc which produced Mama instant noodles, Thai Preserved Foods Factory (the Wai Wai brand) and Wan Thai Foods Industry (the Yum Yum brand).
He discussed the price issue with representatives of the three companies and found higher packaging costs and the increasing prices of their raw materials including wheat and palm oil. Therefore, the three manufacturers received a nod to raise their instant noodle prices by no more than one baht per normal packet, Mr Wattanasak said.
The department did not permit a price hike for any other product. It ordered the manufacturers to lower their prices when the costs of their raw materials and energy dropped, Mr Wattanasak said.
The department would later consider the instant noodle price structures of two other manufacturers, he said. (TNA)