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Have 30 satang handy? You can buy YumYum Changnoi noodles then
SUNDAY, FEBRUARY 19, 2023
The government’s decision to allow a 30 satang increase in the price of “YumYum Changnoi” instant noodles is causing problems at checkout counters.
This is because the Thai currency only has 25 and 50 satang coins, and returning change for 3.30 baht is becoming difficult.
Wan Thai Foods, the manufacturer of YumYum Changnoi, had filed a request with the Department of Internal Trade last year to increase the price of the noodles from 3 baht to 4. However, it was told that it could only raise it by 30 satang to 3.30 baht.
“Manufacturers have never faced a problem like this before,” a source from the consumer goods industry said on Saturday.
Separately, a source from the retail industry said this is yet another evidence of this government’s inability to maintain product prices.
“Instant noodles have become a product used in political games,” the source said, adding that the price of instant noodles is a sensitive issue among Thais. Instant noodles are the cheapest source of nutrition in Thailand.
Pawat Ruangdejworachai, CEO of media solutions firm Media Intelligence Group, said product prices are calculated based on the cost of production, packaging, marketing and the manufacturer’s profit.
Many manufacturers have been suffering from rising costs due to skyrocketing oil prices due to the ongoing Russia-Ukraine war.
He said raising the price of YumYum Changnoi noodles by 30 satang was not in line with trade practices. Instead, he said, product prices should be set in a range that attracts consumers to purchase, like selling energy drinks at 10 baht per bottle.
“If brands want to increase their prices, they must ensure consumers get equivalent benefits, otherwise buyers will just go for a cheaper option,” he said.
The price of many consumer goods has risen over the past two months this year. For instance, the Red Bull energy drink has risen from 10 baht to 12, while 125ml packets of Lactasoy soy milk are now going for 6 baht instead of 5.
The price of YumYum instant noodles was raised from 6 baht per pack to 7 baht last year, along with Mama and WaiWai.
The price of Yakult yoghurt drink is set to rise by 1 baht per bottle on March 1, for the first time in more than a decade.
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