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Trade Ministry Ensures Availability of Affordable Cooking Oil

Translator

Ricky Mohammad Nugraha

Editor

Petir Garda Bhwana

4 January 2022 13:43 WIB

Residents scramble to buy cooking oil at a low-price market ahead of Christmas and New Year 2022 in Palu, Central Sulawesi, Tuesday, December 14, 2021. A cheap market held by the Industry and Trade Office of Central Sulawesi Province in collaboration with a number of state-owned enterprises, distributors, SMEs, and retailers The modern era was invaded by residents who came to buy various necessities, especially cooking oil which received special subsidies. ANTARA PHOTOS/Mohamad Hamzah

TEMPO.CO, Jakarta - The Indonesian Trade Ministry on Tuesday conveyed commitment to ensure that cooking oil supply will be available nationwide at an affordable price after distributing ‘simple-packaging cooking oil’ priced at Rp14,000 per liter to a larger area.

"We ensure that cooking oil will remain available at affordable prices so that people can get cooking oil in all types of markets, both modern retail and traditional markets," says Trade Minister Muhammad Lutfi in a statemnet on January 4. 

The government’s provision of the affordable cooking oil distribution came after the spiking market prices for this type of commodity. Upon lowering the price, the government will subsidize it with funds sourced from the Palm Oil Plantation Fund Management Agency (BPDP).

The Trade Ministry has also coordinated with cooking oil producers, distributors, and regional administrations to make sure cooking oil scarcity will never happen across markets nationwide.

The current rise in cooking oil prices is a byproduct of the increasing global crude palm oil (CPO) value to USD 1,340/MT.

Read: Trade Minister Urged to Maintain Cooking Oil Price Stability

MUHAMMAD HENDARTYO

Cooking OilTrade Ministry


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