'Mama' maker raises price

Thai President FoPresident Rice Products, a subsidiary of the maker of leading ods has had to raise the price of its vermi-

celli product by Bt1 per pack in the domestic market and by

40 per cent for exports due to skyrocketing costs, especially for rice.

 "We have asked the Commerce Ministry to adjust the re-

tail price of our vermicelli product from Bt6 per pack to Bt7,"

president Pipat Paniangvait said last week.

instant noodles brand "Mama", has seen manufacturing costs soar. The price of a 100-kilogram sack of 100-per-cent rice has jumped by 300 per cent to Bt2,400.

Instant noodle manufacturers have also faced a market contraction of 10 per cent so far this year, Pipat said.

To cope with rising expenses and the government's price controls, the company plans to increase the percentage of exports to 40 per cent of sales.

The company's marketing strategy was about survival, as its profit plunged from Bt50 million in 2007 to Bt10 million last year, he added.