Bangkok: After 14 years, Thailand has decided to increase the price of instant noodles, a popular item among daily necessities. The country’s five largest instant noodles manufacturers had approached the government demanding a price hike. This was in the context of a sharp rise in the cost of production.
The crises in different parts of the world like the invasion of Ukraine, floods and droughts have significantly affected the prices of food items. Prices of commodities including wheat rose and availability decreased. The Department of Trade has approved an increase to seven baht (Thai currency) for all regular size packs. The new price will be effective from today. Until now, a packet of noodles cost up to six baht.
Wheat prices have risen by 20 to 30 percent in the last few weeks. The price of palm oil has doubled. Inflation in Thailand hit a 14-year high in June. Eggs, oil etc along with noodles remained unchanged in price so far. Soon their prices will also increase. Earlier, the prices of noodles were also raised in Asian countries like Japan and South Korea.