Trade Minister Lutfi Promises Cooking Oil Prices To Be Appropriate Before Ramadan

The Minister of Trade, Muhammad Lutfi, made an inspection with his staff to a market in the Kebayoran Lama area, South Jakarta, Wednesday, March 9.

JAKARTA - The Ministry of Trade (Kemendag) ensures that the supply of cooking oil will be distributed properly throughout Indonesia. In fact, the Ministry of Trade has promised that before Ramadan the price of cooking oil on the market will be brought under control according to the highest retail price (HET) set by the government.

The Ministry of Trade has set the highest retail price (HET) for cooking oil, namely the price of bulk cooking oil at IDR 11,500 per liter, the price for simple packaged cooking oil at IDR 13,500 per liter, and the price for premium packaged cooking oil at IDR 14,000 per liter.

The Minister of Trade, Muhammad Lutfi, said that the HET policy would last a long time, because the government had no plans to revoke the policy. So, people are asked not to panic buying or excessive shopping.

Furthermore, Lutfi explained that if you look at the graph, the price of cooking oil in the market has moved down towards the HET that has been set by the government. Therefore, Lutfi is sure that the problem will be resolved before Ramadan.

"If you look at the graph, actually this price has decreased towards HET. If we can see that when the availability of the fit stock of CPO and olein is, then the market price will mechanically happen. When will it happen? this," he said, in a virtual press conference, Wednesday, March 9.

Lutfi said the supply of cooking oil will certainly be distributed throughout Indonesia, both in bulk form in traditional markets and premium packaging in modern retail. For example, today Lutfi directly ensured the availability of cooking oil stocks, both bulk and simple and premium packaging, at the Kebayoran Lama Market, South Jakarta.

From the results of the monitoring the stock is available and not rare. However, Lutfi admits that the problem now is that traders do not sell according to HET. "The supply of bulk cooking oil will fulfill all Indonesian traditional markets continuously, consistently so that people can get cooking oil more easily at affordable prices. Also ensure the supply and availability of simple and premium packaged cooking oil in modern market networks continuously throughout Indonesia," he said.

To ensure sellers sell cooking oil at prices according to HET, said Lutfi, the Ministry of Trade together with the Food Task Force and all relevant ministries/institutions will take firm action against individuals who hinder supply and distribution by hoarding, price-playing or other unlawful actions.

"We have closely coordinated with the National Police Headquarters and we remind all who follow this cooking oil trading system to obey," he said.