date:May 28, 2012
s are estimated to increase by as much as 20% following the minimum wages hike. The hike has already caused food production costs to increase by 5-20%, depending on the intensity of the labour.
Chinabutr said that the increased minimum wage would increase costs for small and medium enterprises, which make up for 97% of the countrys food sector, by around 6.4%.
The seafood sector will be the hardest hit, said the NFI, with a cost increase of 20%, followed by 5-10% for meat, 5-10% for medium-siz