Jurin puts brake on instant noodle price hike
published : 28 Apr 2022 at 14:44
writer: Online Reporters
Commerce Minister Jurin Laksanawisit on Thursday blocked an attempt to raise instant noodle prices on the back of higher production costs driven by a hike in global oil prices.
Mr Jurin said manufacturers were not allowed to increase the retail prices of instant noodle products at this time, as it would increase the burden on consumers who are already coping with the rising cost of living.
"The Commerce Ministry has not approved the increase of instant noodle prices," he said after arriving in Phuket for a Commerce Ministry meeting. The ministry tried to maintain the prices for as long as possible, he added.
Instant noodles are one of the 18 essential items on the ministry's price control list. Their prices are capped, and an increase needs the ministry's approval first.
On Tuesday, the Thai Retailers and Wholesalers Association said it was planning to increase the instant noodle prices by about 20% to reflect production costs. If approved, the retail price of a large instant noodle package would increase to 10 baht, from the current eight baht.
"Prices of the products should be determined by the market," association president Somchai Pornrattanacharoen said and called for the end of the price cap.