Statistics: CPO Export Ban Succeeds to Suppress Cooking Oil Prices

2 June 2022 14:05 WIB

TEMPO.CO, JakartaStatistics Indonesia or BPS head Margo Yuwono said the government’s decision to ban the export of crude palm oil (CPO) since April 23, 2022, yielded positive outcomes on cooking oil prices. 

“It is proven that in May, cooking oil posted deflation,” said Margo in a press release as quoted from Bisnis.com, Thursday, June 2, 2022.

The BPS data showed that cooking oil contributed to inflation at minus 0.01 percent in May 2022. Previously in April 2022, the commodity had the highest share of domestic inflation at 0.19 percent.

“When calculating cooking oil inflation, BPS combined packaged and bulk cooking oil prices. Overall, the price of cooking oil in May decreased compared to April 2022,” Margo emphasized.

The price of bulk cooking oil was monitored to have dropped from Rp18,980 per kilogram in April 2022 to Rp18,220 per kilogram in May 2022.

Meanwhile, based on today’s latest data from the Information Center for Strategic Food Prices (PIHPS), the price of bulk cooking oil is Rp18,250 per liter.  

BISNIS.COM

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