Cooking Oil Prices Have Dropped, But Basic Food Traders In West Jakarta Haven't Seen Its Form

Cooking Oil/Photo: Antara

JAKARTA - The government has set the highest retail price (HET) for bulk cooking oil and premium packaging since Tuesday, February 1. The price of premium packaged cooking oil is Rp. 14,000, simple packaging is Rp. 13,500 and bulk packaging is Rp. 11,500.

However, a number of traders in the market complained about the determination because the stock did not support it. As stated by Totok, one of the basic commodities (nine staples) traders at Kalideres Market, West Jakarta.

Until now, Totok admitted that he had never received a stock of cheap cooking oil from a distributor.

"So far I haven't gotten cheap cooking oil. Honestly, so far I've only heard of cheap oil, but I've never seen it in stock. So it's like a fake rule," said Totok when contacted by reporters, Thursday, February 3.

Totok said it was feared that the pricing program could bankrupt agents and traders.

"The thing is, those of us who have old stock won't sell it. That's an inconsequential program. We have lots of stock at the old price, so it won't sell," said Totok.

Even the operation of the market selling cheap oil prices makes traders miserable.

"On the other hand, market operations are fishing rods everywhere. I just lose, don't sell, no one wants to buy because there is cheaper oil," he said.

Separately, traders at Slipi Market, West Jakarta also complained about the same thing. Traders admit that they are still having trouble getting cheap cooking oil stocks from distributors.

One of the traders, Syawal, admitted that he had only recently received a stock of packaged cooking oil at a low price from a distributor. "This is the first time I got a quota from a distributor, I got a 2-liter package. "Syawal told reporters.

To anticipate losses, Syawal admitted that he did not take much when oil prices were soaring.

"Actually, it's back to the trader's strategy. If you take a lot, when the price goes down, it's a hassle. I'd rather be empty than later on the price drops far and the loss is too big," he said.