Admittedly, Mintita's Stocks Are Starting To Run Low In The Field, Trade Minister Zulhas: Buyers

JAKARTA - Simple packaged bulk cooking oil with the trademark oil is reportedly starting to become rare in the market.

The depletion of oil and land stock has resulted in the price starting to creep up in the market.

Based on the National Food Agency Price Panel, the national average price of simple packaged cooking oil is at IDR 17,890 per liter.

Meanwhile, bulk cooking oil is at IDR 14,910 per liter.

Trade Minister Zulkifli Hasan acknowledged the lack of oil and land stock in the field.

According to him, the depletion of these stocks is because many people buy oil products. The reason is, the price of oil is guaranteed by the government.

"Fried oil guaranteed by the government that is oily, it's just a hassle for everyone to look for cooking oil is oil, so they are fighting over it," he told reporters, Sunday, January 29.

Zulhas, as Zulkifli Hasan is familiarly called, said that in fact, Kumita was only presented to certain groups. That way, no one should fight for oil and land.

"Well, if you're fighting, it should be (Minyakit) for certain (community groups), now people are looking for cooking oil, (search for) oil, so of course, because the stock is fighting for a little," he said.

Furthermore, the Minister of Trade Zulhas admitted that he was withdrawing a strategy to be able to control stock in the market again. In the end, the price of Minkita can return to a retail price of Rp. 14,000 per liter.

Zulhas said, one of the efforts made was to increase stock in terms of supply to flood the market. The hope is that prices can be affected by improving.

"Well, of course, I have taken steps so that the stock is added again, we add raw materials for the country," he said.

For your information, this stock addition process includes one of them by regulating the domestic market obligation (DMO) or meeting domestic needs.

Zulhas will also reduce the DMO ratio for exporters of cooking oil raw materials. Initially, the DMO scale was valid at 1:9, it would be lowered to 1:6.

"In the past, I gave domestic (scale) 1, exports were 9, if not now. Domestic supply 1, exports are only 6. So there will be more flooding for the country," he said.