BANGKOK 29 April 2014 — Instant noodles makers have increased the prices of their products due to the decrease of sales.
According to Association of Thai Wholesaling and Retailing president Somchai Pornratanacharoen, some instant noodle companies have increased the prices of their noodles due to slower sales in the instant noodle market.
It is likely that the rest of the producers will increase their product prices on the back of rising production costs. The prices of instant noodles have increased by 25-50 satang per pack; however, under the present regulations, each pack will have to be sold at no more than 6 baht apiece, Somchai said.
A slower economy and the increase in the cost of living have prompted the public to spend less of their income on consumer goods — affecting the sales of instant noodles in turn.
Mr. Somchai has called on the government to quickly address this issue in order to allow more competition in the market, adding that he hopes a new government could soon be formed in order for the country to move forward.
