The recent drop in the cost of indomie noodles is due to noticeable improvement in the country's economy in recent times and not linked to reduced patronage, the producer of Indomie Instant Noodles, Dufil Prima Foods Ltd., has said.
Mr Temitope Ashiwaju, the company's Group Corporate
Communications and Event Manager, made the clarification in an interview with
the News Agency of Nigeria (NAN) on Saturday in Lagos.
Ashiwaju said that the clarification became imperative to
correct the wrong narrative about the reason for price adjustment for the
product recently.
He said that the company was also affected by the economic
realities, hence the reason for increase in prices of indomie noodles in the
past.
For a listening company such as ours, we felt at some point
in time, against our operational cost to adjust when things started to improve.
"We had a price reduction, which is not one of those characters
that is usually found with sonme other companies.
(Nigerians are quick to adjust prices when it is going up
and favour them, but when prices go down, they are slow to do that. This is not
our character at Indomie,” he said
According to him, many firms do not have such habits of
changing prices in record time when it goes down.
He added: We are not here to rip people’s out. Of course, if
you starve people and make the products out of reach, it will also affect us.
“Our goal is to make the products affordable for Nigerians
and at the best quality you can find around. Reduction in prices came when the
operational cost started to go down.
“We don’t have a choice than to adjust to realities of times
and other indices as they improve because serving people are at the centre of
our core value.
The moment we realised that things started to stabilise, we
all hope and pray the economy gets better, as a responsible company, we felt it
was time to do a further price reduction.”
According to him, some other companies would rather just
either reduce qualities and start cutting corners when operational cost was up.
He said that instead of doing that Indomie opted for price
jump to be in tune with what the reality is and that was what necessitated
price increment in the first place.
He reiterated: “It was not about patronage at all. People
must eat and this is uppermost in our heart as responsible company. It has
nothing to do with low patronage at all.
“We have been in the country for over two decades and have
have factories and installations all scattered around the country.
“Over the years, we are all aware of the exchange rate
dollars to the Naira and most of these are components of determining prices.
Machines and mechanical operators are things that are not produced locally.
All businesses are set up to make profits, however, for us,
in trying to make best quality products at affordable prices for Nigeria.
We have kept that perspective in the last 20 years which
made us to have a brand that is known to people and competing with almost all
food brands to rice.
“Apart from maybe rice, the only thing people talk about is
indomie and noodles,” he said.
NAN recalls that the price of Indomie noodles skyrocketed
within a short period and the demand reportedly reduced following price
increase.
In a market survey conducted by NAN recently shows that a
carton of Indomie standard pack which is the smallest size, was being sold for
between N10,500 and Ni1,500.
However, a carton of that same size is presently sold for
between N7,400 and N8,000.
Also, a carton of the Super Pack was sold for between
N17,800 and N18,700, and a cartoon of Hungry Man size was sold for between
N16,800 and N17,500.
Presently, a carton of the Super Pack is sold for between
N12,000 and Ni3,000, while a carton of the Hungry Man size is sold for between
N11,500 and N12,500.
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