JAKARTA - The Director General of Domestic Trade at the Ministry of Trade (Kemendag) Isy Karim stated that his party canceled the revision of the Oilita Highest Retail Price (HET). He said, the price of HET Oilita remained at Rp. 14,000 per kg to Eid Al-Fitr 2024.
Previously, the Ministry of Trade planned to revise the HET of Oilita after the 2024 election this year.
"There is an issue that there will be an increase in the HET of Oilita. Well, we have said that for now the policy for cooking oil will not increase the benchmark price, at least until after Eid," he said at the Food Supply and Price Security Coordination Meeting Ahead of Fasting and Eid Al-Fitr, at the Kempinski Grand Ballroom, Jakarta, Monday, March 4.
In addition, Isy emphasized that the government has not yet changed the policy of the Domestic Market Obligation (DMO) regulation of cooking oil.
As for the policy set, the amount of DMO 450,000 tons per month is returned to 300,000 tons per month based on the installed capacity according to the Decree of the Director General of Domestic Trade Number 82 of 2022 which is valid in May 2023.
"We have also evaluated this and confirmed it to business actors and associations that the people's cooking oil DMO policy is maintained," said Isy.
Previously, the Minister of Trade (Mendag) Zulkifli Hasan admitted that he would evaluate the highest retail price (HET) for Oilita at the end of next month.
According to him, evaluations need to be carried out because the implementation of HET of IDR 14,000 per liter has been valid for more than 1 year.
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"We will evaluate the price next month, because it's been 1.5 years. Of course we will evaluate it in February," he said at the Ministry of Trade Office, Jakarta, Thursday, January 4.
Furthermore, the man who is familiarly called Zulhas explained that the evaluation would cover various aspects. Including, determining whether the price will remain at HET of Rp. 14,000 per liter or there will be an increase.
"We will evaluate the price next month, at the end of February whether it will still be Rp. 14,000 or Rp. 15,000," he said.
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