Trade Minister on Instant Noodle Price: Wheat Prices to Drop in September

11 August 2022 13:59 WIB

TEMPO.CO, Kulon Progo - Trade Minister Zulkifli Hasan is optimistic that the price of instant noodles will not increase three times as previously forecasted by Agriculture Minister Syahrul Yasin Limpo.

“[Prices of] instant noodles will not increase three times because [prices of] wheat sees an upward trend due to crop failures in Australia reaching 67 million tons,” said Zulkifli after reviewing the price of food needs at Wates Market, Kulon Progo Regency, Yogyakarta, Thursday, August 11, 2022.

One of the reasons behind his optimism that the price of instant noodles will not skyrocket is because there is a downward trend in the price of wheat as the raw material for instant noodles. The price of wheat declines in line with the recent improvement in the availability and supply of the commodity.

Zulkifli recalled that the visit of President Joko "Jokowi" Widodo to Russia last month had a good impact on the availability and supply of wheat in Indonesia. “The President visited Russia [for a peace mission] and it turned out to be successful, wheat is free now. So the wheat market will be flooded by Ukraine. And also, the harvest in Australia, Canada, and the U.S. is successful,” he added.

On this basis, Zulkifli was confident that the price of wheat in September will plummet. “It (the prices of instant noodles) will not increase three times. It might rise slightly previously. But in September, [the wheat price] tends to go down,” the Trade Minister concluded.

ANTARA 

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