Multiple instant noodle makers have asked Thailand's government this week to allow them to charge more for their products in order to cover rising costs, potentially paving the way for the first price increase in the staple in 14 years.
Thai law regulates the price of instant noodles and other staples. According to Reuters, five noodle brands, including Wai Wai, Mama, and Japan's Nisshin, have requested approval from the Commerce Ministry to raise their prices from 6 baht ($0.17) to 8 baht ($0.23).
The Ministry of Industry and Trade has established a working group to inspect production lines and supervise on a large scale of instant noodles consumed in the domestic market, imported instant noodles, and instant noodles for export.
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Despite mounting calls for a hike in instant noodle retail prices by producers, Commerce Minister Jurin Laksanawisit remains adamant the price will remain frozen.