The Thailand Customers Council (TCC) can be calling on the government to ensure transparency as it mulls a request simply by five instant noodle brands to increase the product price by 2 baht per box, or up to 30%.
The move should be backed by data as to why it is necessary now, otherwise the price rise only will add up to more revenue for the firms, the particular country’s five largest instant noodle manufacturers, said Saree Aungsomwang, secretary-general of the TCC.
The companies post profits while drawing on ingredients which are price-controlled by the Department of Internal Trade, she said. Since these prices have never gone up, she inquired how the companies could claim their expenses of production are usually higher. The TCC has asked to sit on behalf of shoppers on the department’s committee vetting the demand. “The instant noodle index is an signal of living expenses and the department’s efficiency, ” she stated.
Since the department is anticipated to approve an one baht rise in the current 6 baht per packet, purchases have already doubled, stated Somchai Pornrattanacharoen, president of the Thai At wholesale prices and Retail Business Association. The rise is seen as an indicator of product hoarding.
Juga Paniangvait, manager of the president’s office on Thai President Food items Plc, manufacturer of Mama instant noodles, insisted the price rise is in line with additional production costs.