Robert Besser
18 Aug 2022, 14:37 GMT+10
BANGKOK, Thailand: Instant noodle makers have asked Thailand to allow them to increase their prices to meet rising costs, which could potentially pave the way for the first price hike in noodles following a 14-year freeze.
The Thai government regulates the prices of instant noodles and other staples.
Five noodle producers, including, Mama, Wai Wai and Japan's Nisshin, said they are asking the Commerce Ministry for approval to increase the prices of their noodles from 17 to 23 cents.
Some companies were earlier been denied requests to increase prices by the government.
Weera Napapruekchat, Vice President of Thai Food Products Factory, which makes Wai Wai, said, the price of wheat flour and palm oil have risen sharply, noting that some of his company's products were being sold at a loss and that it would reduce sales in Thailand if approval is not
granted, instead switching to overseas markets where it has already increased prices.
In a statement, Thailand's Director-General of Internal Trade Wattanasak Sur-iam said, "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."
Get a daily dose of Sydney Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sydney Sun.
More InformationDETROIT, MICHIGAN: Ford has announced that due to an engine defect that could cause fires, it will expand and issue ...
NEW YORK, New York - The bulls had the upper hand again on Friday, pushing the major indices to new ...
LOS ANGELES, California: After adjusting its battery supply chain to qualify for federal credits and other tax breaks, Tesla's Model ...
NEW YORK CITY, New York: Before the start of its annual Worldwide Developers Conference this week, Apple shares hit a ...
FREMONT, California: Elon Musk's brain implant startup Neuralink, valued at some $2 billion during a private fundraising round two years ...
NEW YORK, New York - U.S. stocks moved higher Thursday as investors and traders took a break from their recent ...
NEW YORK CITY, New York: In his second Twitter Spaces event for a 2024 White House candidate, Elon Musk hosted ...
WASHINGTON D.C.: Amtrak CEO Stephen Gardner said this week that despite projected losses of $800 million for the current budget ...
WASHINGTON D.C.: The Biden administration has announced that it is providing grants worth $570 million to eliminate many dangerous railroad ...
PARIS, France: According to a report by BFM TV, Britain's King Charles is considering a visit to France in September, ...
WASHINGTON D.C.: The Federal Aviation Administration has said that a drone sighting disrupted some flights at Pittsburgh International Airport this ...
PORTLAND, Oregon: A federal trial has begun in Portland, Oregon examining the constitutionality of a stringent gun control law approved ...