Info For Ladies, Said Trade Minister Lutfi Cooking Oil Prices Are Expensive Due To Rising Prices Of Crude Palm Oil Aka CPO

Minister of Trade, M. Lutfi. (Photo: Doc. Ministry of Trade)

JAKARTA - The Minister of Trade (Mendag) Muhammad Lutfi responded to the drastic increase in cooking oil prices in recent times. Lutfi said that the increase occurred because it was triggered by an increase in crude palm oil (CPO).

Lutfi said that his party had set the highest retail price (HET) of Rp. 11 thousand per kilogram (Kg) with reference to international CPO prices ranging from 500 to 600 US dollars per metric ton (MT). Meanwhile, he said, the current CPO price has touched the range of US$ 1,250 per MT.

"When we set the highest retail price of Rp. 11,000, based on the CPO price of 500-600 US dollars. Once the price has more than doubled, the price of cooking oil today is sometimes more than Rp. 16,000 as part of the highest price, but this is a consequence of the international market. ," he said at a virtual Digital Technopreneur Fest & Socio Technopreneur Campus event, Friday, November 19.

Lutfi also projects that international CPO prices will continue to rise above 1,500 US dollars per MT. This is because soybean harvests around the world will be disrupted.

Unfortunately, Lutfi did not mention government intervention to reduce the soaring cooking oil price at the community level.

"The harvest from soybeans around the world will not be too good. But the problem is the extraordinary income for Indonesia," he said.

For your information, cooking oil prices continue to soar. Based on data from the Strategic Food Price Information Center (PIHPS), the price of cooking oil in DKI Jakarta has reached Rp. 20,000 per kg on Tuesday, November 16.

The price increase occurred in bulk cooking oil. The increase was 650 when compared to the beginning of last November, a point not only occurred in bulk cooking oil, the increase also occurred in packaged cooking oil.

Meanwhile, the price of packaged cooking oil 1 at the beginning of November was still in the range of Rp. 18,100 but now it has increased to Rp. 19,650 per Kg. Meanwhile, packaged type 1 cooking oil, which was Rp. 17,500 in early November, rose to Rp. 19,000 per kg.