JAKARTA - Last weekend, cooking oil producer owned by conglomerate Anthony Salim, PT Salim Ivomas Pratama Tbk (SIMP) was in the spotlight after the North Sumatra Food Task Force found around 1.1 million kilograms (kg) or 1,100 tons of packaged cooking oil with the initial brand B. in a warehouse in Deli Serdang, North Sumatra.
Of course, this finding is surprising. The reason is, this surfaced in the midst of a scarcity of cooking oil at a price according to HET in the market.
On the other hand, the Business Competition Supervisory Commission (KPPU) is also conducting an investigation into the alleged commodity cartel, along with stable high prices in recent months.
Salim Ivomas, who is a subsidiary of PT Indofood Sukses Makmur Tbk (INDF), in an official statement, confirmed that the packaged cooking oil in the Deli Serdang warehouse is stock that is ready to be sent to the customer. The company implicitly denied the allegations of hoarding.
"SIMP as a company that grows and develops in Indonesia always complies with all applicable rules and regulations in Indonesia. In this case it is related to the regulations of the Ministry of Trade," said SIMP Corporate Secretary Yati Salim in a press release, quoted Monday, February 21.
Yati said that the company's cooking oil factories prioritized meeting the needs of cooking oil at the Indofood Group's instant noodle factories spread throughout Indonesia, including Deli Serdang.
"This is to ensure that food needs are well supplied," he said.
The company's cooking oil production at the Lubuk Pakam factory, Deli Serdang is allocated mainly for the needs of Indofood's instant noodle factory in Sumatra with a volume of 2,500 tons per month.
In addition to meeting their own needs, Yati said that SIMP processed excess production into branded cooking oil in various sizes, especially 1 liter and 2 liter packages of 550,000 cartons per month. SIMP is recorded as producing a number of packaged cooking oil brands, including Bimoli, Bimoli Special, Delima, and Happy.
"This production is routinely distributed to our distributors and modern markets in Aceh, North Sumatra, West Sumatra, Riau, South Sumatra and Jambi," he explained.
So, the question is, where is the supply of cooking oil produced by SIMP nationally?
SIMP's financial report shows an annual sales increase of 37 percent to Rp. 14.13 trillion in the third quarter of 2022. This growth was supported by the increase in the average selling price (ASP) of palm products and vegetable oil and fat products, particularly the increase in sales volume. cooking oil products.
SIMP's revenue from selling cooking oil and vegetable oil on contracts to customers during January-September 2021 reached Rp11.66 trillion. Of the total sales, the largest revenue came from domestic sales of Rp. 9.31 trillion, while exports were of Rp. 2.35 trillion.
As stated in the report, SIMP does indeed distribute cooking oil to business entities under the Indofood Group. PT Indofood CBP Sukses Makmur Tbk. (ICBP) and PT Indomarco Adi Prima are the largest customers with individual cumulative sales of more than 10 percent each of total sales.
Sales of vegetable oils and fats to ICBP, a producer of Indomie brand instant noodles, reached Rp. 2.02 trillion during January-September 2021. Meanwhile, sales to Indomarco Adi Prima were worth Rp. 1.75 trillion in the same period.
Indomarco Adi Prima is a subsidiary of INDF which is engaged in the distribution or distributor of consumer products. The company is also a distributor for PT Indomarco Prismatama, the Indomaret retail network management company.
Indomaret itself is part of the Salim Group business through Anthony Salim's 25.30 percent share ownership in PT Indoritel Makmur Internasional Tbk (DNET). Based on DNET's financial reports, Indomarco Prismatama recorded sales of Rp. 66.36 trillion during the period January to September 2021.
Meanwhile, comprehensive income for the current period attributable to owners of the parent entity reached Rp765.73 billion, close to the 2020 achievement of Rp1.52 trillion.
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