The producer of Indomie Instant Noodles, Dufil Prima Foods Limited, has attributed the reduction in the price of Indomie to a noticeable improvement in Nigeria’s economy in recent times.
Dufil noted that the price reduction was not over reduced patronage.
The price of Indomie skyrocketed within a short period and the demand reportedly reduced following price increase.
A market survey recently showed that a carton of Indomie standard pack which is the smallest size was sold for between N10,500 and N11,500.
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 N13,000, while a carton of the Hungry Man size is sold for between N11,500 and N12,500.
Speaking in an interview with NAN in Lagos on Saturday, April 27, 2024, the Group Corporate Communications and Event Manager of Dufil Prima Foods Limited, Temitope Ashiwaju, said the company was also affected by the economic realities, hence the reason for the increase in prices of Indomie noodles in the past.
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Ashiwaju said: “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 characteristics that is usually found with some 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.”
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 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 but 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.”
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