A source from Sahapattanapibul, meanwhile, said the company is hoping the retail price of Mama noodles will be increased, though there is no guarantee that this will help the company overcome the crisis of rising costs.
The price of Mama noodles has been maintained at 6 baht per packet since 2014.
However, the manufacturer Thai President Foods said the price of wheat flour has surged from 200 baht per 22.5-kilogram bag to 500 baht, while the price of palm oil has risen from 19 baht per kilo to 59 baht.
Based on statistics, Thailand ranks 5th globally in the consumption of instant noodles, with each Thai consuming an average of 53.2 packets of instant noodles annually. Thailand is the 9th biggest exporter of instant noodles, averaging at 3.9 billion packets annually.
