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  4. Instant noodle makers ask Thailand for price hike after 14-year peg
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Instant noodle makers ask Thailand for price hike after 14-year peg

BANGKOK (Reuters) - Instant noodle makers asked Thailand on Monday to allow them to charge more for their products to meet rising costs, potentially paving the way for the first...
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Instant noodle makers ask Thailand for price hike after 14-year peg © Reuters. A student browses instant noodles at the Good Noodle store in Bangkok, Thailand, March 21, 2022. Picture taken March 21, 2022. REUTERS/Athit Perawongmetha

BANGKOK (Reuters) - Instant noodle makers asked Thailand on Monday to allow them to charge more for their products to meet rising costs, potentially paving the way for the first price hike in the staple for 14 years.

The prices of instant noodles and other staples are controlled under Thai law. Five producers of noodle brands including, Mama, Wai Wai and Japan's Nisshin said they were seeking approval from the Commerce Ministry to increase prices of their products from 6 baht ($0.17) to 8 baht ($0.23).

Some companies have previously been denied requests to increase prices by the government.

"The price of oil has increased considerably due to Russia-Ukraine conflict," said Weera Napapruekchat, Vice President of Thai Food Products Factory, which makes Wai Wai, adding that the price of wheat flour and palm oil have also risen sharply.

Weera said that some of its products were being sold at a loss and that it would reduce sales in Thailand and switch to overseas markets, where it has already increased prices, if approval is not granted.

The government will consider proposals on a case-by-case basis and any solution would have to be a win-win for both consumers and producers, Thailand's Director-General of Internal Trade Wattanasak Sur-iam said in a statement.

($1 = 35.4700 baht)

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01-05-2024 10:45:17 (UTC+7)

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    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
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SJC 0,5c7,380/ 7,560
(0/ 0) # 550
SJC 99,99%7,370/ 7,470
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SJC 99%7,196/ 7,396
(0/ 0) # 386
Cập nhật 01-05-2024 10:45:19
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