Will price of instant noodle triple? This is what Indofood boss says

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mi instan
Instant noodles. (IO/Pebri)

Jakarta, IO – PT Indofood Sukses Makmur Tbk director Franciscus “Franky” Welirang responded to the rumour of instant noodle price hike. According to him, the price could go up, but not three-fold as the rumour suggested. Indofood is the producer of popular brand Indomie.

“I think that’s an exaggeration,” Franky said, as reported by detik, Wednesday (10/8).

Franky explained that currently global wheat prices are rising but already peaking. Thus, in his view it is unlikely to increase any further.

“The price of instant noodles may go up, but not that significant. Not even up to 100 percent,” he assured.

He went on to explain that price of instant noodles is not only determined by price of wheat. There are other components.