Prices for instant noodles, condensed milk to rise next month

Prices for instant noodles and condensed milk are set to rise next month as the Ukraine-Russia conflict has affected imports and exports in Thailand, according to the Ministry of Thai Commerce. The ministry says that the situation could cause inflation, but says the state would try to control the price of food and necessary products as much as possible.

Commerce Minister, Jurin Laksanawisit, says the Russian ruble is unstable, adding that some of Thailand’s imports and exports with the country might be suspended. Jurin told Thai media that the government was trying to control the costs of consumer goods like meats and chicken eggs, insisting that everything was under control.

Thai Food Processors Association president, Visit Limlurcha, shared that some businesses, like instant food companies, discussed with the Ministry of Commerce increasing product prices. He added that companies selling products under a price control list make a request with the Department of Internal Trade before increasing prices.

Thai Wholesale & Retail Trade Association says so far prices are increasing for instant noodles and condensed milk. Some instant noodles companies asked to increase their wholesale price at 0.25 baht each because the prices for ingredients went up while some condensed milk brands plan to add up around 2 baht per can.

SOURCE: Thai PBS | Channel 7 | Sanook