Cooking Oil Price Intervention To IDR 14.000, Coordinating Minister Airlangga: Government Disburses IDR 7.6 Trillion Jumbo Funds

Coordinating Minister for the Economy Airlangga Hartarto (Photo: Doc. Coordinating Ministry for the Economy)

JAKARTA - The government through the Coordinating Minister for Economic Affairs Airlangga Hartarto took concrete actions to stabilize the selling price of cooking oil for the general public by intervening at the level of large producers.

Recently, the government, called Coordinating Minister Airlangga, has reached an agreement with the Palm Oil Plantation Fund Manager (BPDPKS) to disburse a large number of funds to cover the price difference.

"In this meeting, it was decided that for the difference in the price of cooking oil, funding support from the Palm Oil Plantation Fund Management Agency will be provided in the amount of IDR 7.6 trillion," he said, quoted on Wednesday, January 19.

According to Airlangga, the effort to close the difference in cooking oil prices is to meet the needs of households, micro industries, and small industries.

"This policy is based on the results of an evaluation that considers the availability and affordability of cooking oil prices for the community," he said.

Later, it is hoped that the public will be able to get the price of packaged cooking oil at an affordable price of IDR 14.000.00 per liter. Efforts to close the price difference are not only given to cooking oil in 1 liter packaging, but also for cooking oil in 2 liter, 5 liter, and 25 liter packages.

Just so you know, packaged cooking oil with a special price will be provided as much as 250 million liters per month for a period of 6 months. The government will also continue to monitor and evaluate regularly, at least once a month, related to the implementation of this policy.

"The implementation of the one-price policy for cooking oil, which is IDR 14.000 per liter, will begin on Wednesday, January 19, 2022, at 00.00 a.m. throughout Indonesia. However, specifically for traditional markets, the adjustment period is no later than 1 week from the effective date," Airlangga concluded.