Thamarat Chokwatana, director and executive vice president of ICC International Plc, said this at the Saha Group Fair on Thursday.
He said the company has asked the government for permission to increase the price of instant noodles from 6 baht per packet. Choosing not to elaborate on what the new price would be, he only said that the cost of production has risen by more than 10 per cent as the price of each ingredient has risen several fold.
Thamarat said the price of instant noodles, like detergent, is controlled so it is difficult to adjust the price tag when production cost rises. The price of other products is controlled by market mechanisms, he said.
He added that instant-noodle manufacturers are trying to maintain the price for as long as possible, but will not be able to do this for too long.
He added that a 1-baht increase in price may not be enough if the cost of ingredients continues rising.
Thamarat added that he understands why the government wants to keep the price unchanged, but if prices are not adjusted then companies will start making huge losses.
Saha Group had called on the Commerce Ministry in June for permission to increase prices, but the request was rejected.
The four-day Saha Group Fair, which wraps up on Sunday, is being held at the Bangkok International Trade and Exhibition Centre (Bitec).
Manufacturers sell products at original prices in a bid to help ease consumers’ burden of rising living costs. Thammarat said this year’s fair is bigger than ever, especially since this is the first on-site event since the arrival of Covid-19 in early 2020.
Published : July 01, 2022
By : THE NATION