Minister Of Trade Lutfi Brings Good News To Mothers And MSMEs, Starting Today Cooking Oil Will Be Sold For IDR 14,000: But Don't Do Panic Buying!

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

JAKARTA - The government continues to make various efforts to stabilize cooking oil prices, which have recently soared. One of them is to set one price for cooking oil, namely IDR 14 thousand, which comes into effect today, Wednesday, January 19.

Minister of Trade (Mendag) Muhammad Lutfi said to provide wider benefits to the community, the government has issued a policy of providing cooking oil at one price.

Furthermore, Lutfi said that through this policy, it is hoped that the public will be able to obtain cooking oil at an affordable price and on the other hand, producers will not be disadvantaged because the difference in price will be reimbursed by the government.

"The Ministry of Trade announced the one-price cooking oil policy. Through this policy, premium, simple packaging will all be sold at the equivalent of IDR 14 thousand per liter or all types of packaging, both premium and simple, from 1 liter to 25 liter jerry cans are intended for household needs and MSMEs," he said, in a virtual press conference, Tuesday, January 18.

Lutfi also appealed to the public not to overspend or panic buying in response to the price of cooking oil to IDR 14 thousand.

"There is no need to panic buying or buying excessively because the government guarantees that the stock at a price of IDR 14,000 per liter can definitely meet the needs of the community," he said.

Through the Palm Oil Plantation Fund Management Agency (BPDPKS), the government has prepared funds of IDR 7.6 trillion which will be used to finance the supply of packaged cooking oil for the community of 250 million liters per month or 1.5 billion liters for six months.

Lutfi said this policy had been socialized to all cooking oil producers and modern retailers. In principle, both modern producers and retailers support the government's policy to stabilize cooking oil prices, which have recently soared.

"It has been socialized to all modern producers and retailers, they support this policy. I appreciate 34 cooking oil producers who have expressed their commitment to participate in packaged cooking oil at one price for all Indonesian people. We hope that people can get affordable cooking oil on the other hand, producers don't harmed," he explained.