Indonesian Trade Minister Zulkifli Hasan said on January 31 that the government, in collaboration with domestic cooking oil producers, will increase the supply of packaged and bulk cooking oil to 450,000 tons per month in the period from April-April 2023.
According to Mr. Zulkifli Hasan, “to meet the demand cooking oil increasing before fasting month of Ramadan and then Lễ Eid al-Fitrthe government and producers will increase the supply of cooking oil through the Domestic Market Obligation (DMO) program by 450,000 tons per month through next March.”
According to the program, the amount of cooking oil supplied to the market is about 50% higher than the currently allocated DMO of 300,000 tons per month.
Producers have also announced their commitment to assist the government in increasing domestic cooking oil supplies.
[Indonesia gia hạn miễn thuế xuất khẩu dầu cọ đến hết tháng 10]
To ensure that the DMO program is highly effective, suppliers will report to the General Manager of Domestic Trade (Kasan)” every Friday.
Oil suppliers will also monitor the price movement of the distribution network to ensure a smooth supply to all parts of Indonesia.
The retail price of cooking oil (HET) under government pressure is 14,000 rupiah/liter for cheap packaged cooking oil Minyakita and 15,500 rupiah/kg for bulk cooking oil.
However, in the market on January 27, 2023, the average retail price of Minyakita was 14,700 rupiah/liter, up 5% compared to December 2022.
Van Phong (VNA/Vietnam+)