Trade Minister Zulhas Claims Excess Migration Stock In Surabaya Traditional Market

Photo of the Ministry of Trade's Doc

JAKARTA - Minister of Trade Zulkifli Hasan (Zulhas) claims that the stock and supply of bulk cooking oil in traditional markets is excessive.

According to him, because of this excess, the price of these commodities has decreased.

This was conveyed by Trade Minister Zulhas after monitoring basic materials (bapok) at the Wonokromo Market, Surabaya, East Java, Sunday, July 31.

“Bulk cooking oil in simple packaging is priced according to the highest retail price (HET) of Rp. 14,000. Guaranteed stock. The price tends to fall because there is excess stock," he said in a written statement quoted on Monday, August 1.

Meanwhile, nationally, the average price of bulk cooking oil was Rp. 14,400 per liter, down 8.86 percent compared to last month.

Especially for the islands of Java, Bali, Sumatra and Kalimantan, the price of bulk cooking oil is in accordance with the HET of IDR 14,000 per liter.

"Even for the islands of Java and Bali, it has dropped to IDR 12,979 percent liter," he said.

Meanwhile in other provinces, the price of this commodity showed a downward trend with details of the average price for the Sulawesi region of Rp. 14,919 per liter, Nusa Tenggara (Rp. 16,125 per liter), Maluku and Papua (Rp. 18,940 per liter).

As of July 29, MGCR is already available at 18,024 PUJLE partner retailers spread across 271 districts/cities in 27 Provinces with special signs/HET banners.

In addition, as many as 91 companies have obtained approval for the use of the Oilita brand from the Ministry of Trade.

"This number will continue to grow because the company's interest in implementing this program is quite high," he said.

The Ministry of Trade, continued Zulhas, will also provide export quota incentives to companies that pack bulk cooking oil using the Oilita brand.