Menu/food prices rising in Thailand

[Dannie Boy]

Saha lobbies ministry in bid to raise noodle prices
Saha Group, the country's biggest consumer goods conglomerate, is calling on the government to allow it to raise product prices, especially Mama instant noodles, as raw material costs continue to rise.

Boonsithi Chokwatana, the group's chairman, said yesterday Saha would like the Commerce Ministry, which supervises goods on the price control list, to allow it to hike on a gradual basis the prices of goods such as instant noodles and detergents because raw materials have significantly surged and keep rising because of the Russia-Ukraine war.

"The prices of instant noodles are allowed to increase around the world, whether it is in Japan, China or Taiwan. If we aren't allowed to raise prices, I'm afraid we cannot stay in the market," Mr Boonsithi said.

https://www.bangkokpost.com/business/23 ... dle-prices

That's the way, hit the poorest first, thanks mr millionaire chairman.

Sorry Buks, but everything else is going up so why should noodles be excluded? Let’s face it, all big company chairman are multi millionaires

[buksida]

Sorry Buks, but everything else is going up so why should noodles be excluded? Let’s face it, all big company chairman are multi millionaires

No reason, just saw the irony in a millionaire executive urging for price increases on a staple for the masses. Its always those at the bottom that suffer the most, hiking noodle prices won't affect Mr Chairman one bit, but not doing so may affect his firm's revenue.

I'm sure CP is still making massive profits through its food monopoly despite the increases.

[buksida]

Jurin stands firm on noodle prices
Despite mounting calls for a hike in instant noodle retail prices by producers, Commerce Minister Jurin Laksanawisit remains adamant the price will remain frozen.

Mr Jurin said on Friday the ministry has not allowed any instant noodle producers to raise retail prices and pledged to maintain the prices as long as possible to prevent negative effects for consumers.

"The ministry feels sympathy for producers facing a sharp rise in oil prices and higher production costs for months because of the Russia-Ukraine war," he said. "But we believe it is essential to ask for cooperation from producers to continue to cap their product prices as long as possible to help alleviate consumers' hardships."

Mr Jurin said the ministry is also concerned about shortages if manufacturers decide to reduce their production capacity or stop production because of losses.

https://www.bangkokpost.com/business/23 ... dle-prices

[handdrummer]

Mr Jurin said the ministry is also concerned about shortages if manufacturers decide to reduce their production capacity or stop production because of losses.

They have learned well from the oil companies.
It's not losses it's less profit.

[Big Boy]

Margarine discussion moved here viewtopic.php?f=16&t=40759

[buksida]

Rice next?

Commerce Ministry denies news of domestic rice price hike amid falling export prices
The Ministry of Commerce said on Friday rice sellers had no plan to raise packaged rice prices, as reported in the media this week, although certain discounts will be revoked to withstand growing shipment costs.

“The extra costs are due to higher shipment expenses, not raw material,” said Wattanasak Sueaiam, director-general of the Department of Internal Trade. “We have urged operators to set price caps, and some may change their sales campaigns.”

Thai netizens were not pleased when they first saw the news of the rice price hike, which appeared to be 30 baht for a five-kilogramme package. They said the current situation is dire as a result of the living cost crisis induced by inflation.

“Everything is more expensive, except minimum wages,” said a comment on Facebook. Some noticed that the prices of rice have been on the rise in the past months prior to the news.

The netizens also pointed out that rice farmers are facing a decline in export rates, which is not corresponding to the hike in retail rice prices.

https://www.thaienquirer.com/41187/comm ... rt-prices/

[Big Boy]

We've just been for a breakfast - prices up 15%.

I still think it was good value, but it seems relevant to this thread.

[buksida]

Asia’s rice prices skyrocket after India’s export ban – as Thailand eyes an opportunity
For the first time in a decade, Vietnam-based agritech company Farm Angel didn’t buy any rice from the country’s farmers last month – it typically procures thousands of tonnes per year – after prices shot up in the wake of top supplier India’s export ban.

Since New Delhi halted shipments of non-basmati rice, and dry weather threatened output in second-largest exporter Thailand, rice prices in Asia have shot up – touching the highest levels in almost 15 years.

At nearly US$650 a tonne, regional benchmark Thai white rice 5 per cent broken hasn’t been this expensive since the depths of the global financial crisis in October 2008, according to data from the Thai Rice Exporters Association cited by Bloomberg.

...

Thailand, meanwhile, has expressed optimism about capturing a larger slice of the export market from India.

The recent price spike is likely to bring immediate gains for large rice mills, middle men and exporters, but pain for consumers and smallholder farmers.
The Thai Rice Exporters Association expects exports to surge by as much as 20 per cent as Thailand looks to send around 8 million tonnes of the grain to world markets this year, scooping up the deficit left by India.

But across the country’s rice-growing heartlands – where a kilogram of rice currently goes for around 11 baht (30 US cents) – farmers are bracing for an unwelcome shock after years of depressed prices.

“Normally a price rise is good news, but the price has fallen like crazy in recent years so farmers have had to sell their reserves to pay off debts and have no stocks left to take to market,” said Bualin Komkla, president of a cooperative of local rice mills in Surin, near the Cambodia border.

“In fact some families have sold all of their rice stocks and new harvest already and need to buy rice themselves to eat – so a price rise hurts them. The only people who gain will be the rice millers with large stocks.”

Farmers are also expecting harvests to take a hit from the looming drought, he added.

https://www.scmp.com/week-asia/economic ... pportunity

Thailand's monopolies and food cartels have a habit of profiteering from exports while its people end up paying higher prices for locally produced food (pork, durian, rice, etc).

[Dannie Boy]

The biggest issue I can see is that the lack of rain this year will affect yields going forward, so everyone can expect to see big price increases in rice and many other food products.

[buksida]

According to this, everything is still going up and will continue to do so ...

"Key products posting price increases included eggs and dairy products (chicken eggs, fresh milk and soy milk), as well as fresh vegetables and fruit (lemon, ginger, garlic, longan, watermelon and oranges) because of volatile weather conditions that led to lower output.

Non-alcoholic beverages, glutinous rice and finished food also registered price increases, according to the ministry."

https://www.bangkokpost.com/business/ge ... ain-stable

The new gooberment has promised to try and curb price rises with stimulus measures ... they should really start by controlling the Thai food cartel/monopoly (which MFP promised to do).

[caller]

But, but, but - yesterday it was revealed inflation had only increased by 0.8% and the forecast is for it to remain steady. Not sure what they include in their data, clearly not much food!

[buksida]

Indeed. The fractions of a percent increases quoted by the ministries have no bearing whatsoever in the real world where price hikes are usually in double figures.

[STEVE G]

Well I'll be happy to get back to those inflated prices in Thailand because a new Thai "Street food" restaurant recently opened here in Luxembourg and a bowl of noodles costs 16 euros which is over 600bt!

[Big Boy]

Do we actually know what the rate of inflation is running at in Thailand?

[Dannie Boy]

Here’s one version, but official publications and reality might be somewhat different!!

https://www.macrotrends.net/countries/T ... n-rate-cpi