In the wake of the Commerce Ministry allowing an increase of 9 baht per a liter of palm oil, the producer of the best known instant noodles ‘ Mama’ is prepared to hike the price of the leading noodles.
According to Chief Executive of the Thai President Foods Pipat Paniangvait , his company will have to raise the price of its famous noodles soon. The hike, a result of palm oil price increase, has caused production costs to rise considerably. Adding to the woes is the price of flour, one of the main ingredients of noodles, which has also gone up by over 100 percent, from 90 baht to 200 baht a sack in just a month’s time. Minimum wage hike also gives the company a headache, making it necessary for the producer to raise the price of ‘Mama’—a poor man’s feast.
Palm oil which cost 20 baht a liter two months ago now costs nearly 60 baht, much higher than the maximum of 47 baht allowed by the commerce ministry.