Erick Orders SOEs To Hold Additional Market Operations For Cooking Oil

The SOE Minister reviewed the additional market operations carried out by PPTN in Kuala Tanjung, North Sumatra, Saturday, January 8. (Photo: Antara)

JAKARTA - Minister of State-Owned Enterprises (BUMN) Erick Thohir revealed that SOEs held additional market operations for cooking oil in accordance with the direction of Indonesian President Joko Widodo.

Erick said that this market operation was carried out in accordance with the direction of President Joko Widodo, which targeted 1.2 billion liters of cooking oil.

"According to what the president has directed, the Ministry of BUMN and PTPN carry out additional market operations in which from the target of 1.2 billion liters we will also contribute part of it, but the product brands will be different later," he said in a written statement received in Jakarta, Saturday.

According to the SOE Minister, a subsidiary of Plantation Holding, PT Industri Nabati Lestari (INL), is developing CPO derivative production. Erick said that the simple packaging for INL was only developed when oil prices soared last year.

"We use the INL brand because this is a special economic brand (value for money)," he said.

Erick said the price of INL oil was in line with the government's expectations, namely Rp. 14,000 per liter, which is available in two packages, namely 450 ml and 900 ml. He said SOEs had to take advantage of the momentum by starting to introduce simple packaging specifically for traditional markets with the INL brand.

The SOE Minister reviewed the additional market operations carried out by PPTN in Kuala Tanjung, North Sumatra, Saturday (8/1).

"For the time being, it will be circulated in Medan and North Sumatra first," said Erick.

He said that starting January 2022, SOEs have had three oil products with different segments, namely Nusakita 100 percent price index from the market leader (bimoli), Salvaco (92-95 percent price index bimoli), and simple packaging INL 88 to 90 percent market price index. leader / bimoli).

"We have just started investing in the packaging machine capacity this year and will continue to grow until 2023," said Erick.