“We are facing rising commodity prices, oil prices for export,” explained Veera Naphaprukchart from Thai Preserved Food, part of popular brand Wai Wai.
The price of wheat flour rose roughly 20 per cent to 30 per cent and the price of palm oil had doubled, he said.
Veera blamed rising costs on Russia’s invasion of Ukraine, which was a major supplier of wheat to the kingdom prior to the conflict.
Pipat Paniangvait, of Thai President Food, said the price of instant noodles was last increased in 2008.
Producers’ issues have been compounded by the high export costs – thanks to rising oil and wheat prices – meaning selling abroad is not viable either.
“In the past, we were selling more outside Thailand to curb the situation here as we can not raise the price freely,” he said.
The trade department said it would continue to monitor the cost of production and indicated it could adjust the price accordingly.