Indomie cuts prices due to economic improvement
Dufil Prima Foods Ltd, the maker of Indomie Instant Noodles, has shared the reasons behind the reduction in product costs following a recent spike a few months back.
The company credited the price cut to a substantial uptick in the country’s economy rather than a decrease in demand.
Mr. Temitope Ashiwaju, the Group Corporate Communications and Event Manager of the corporation, confirmed this development on Saturday in Lagos.
Ashiwaju emphasised the importance of clarifying any misunderstandings about the recent price adjustment of the product.
He further explained that economic changes had impacted the company, leading to previous cost increases for Indomie noodles.
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He 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 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.
“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.”
Ashiwaju highlighted that the company has been operating in Nigeria for over two decades, with factories and installations across the country.
