Call for closer collaboration between government and industry on cooking oil stocks

We must not ignore it and we must cooperate. Here we have asked the industry to provide buffer stock, so that the (price) rise is not a burden on consumers.

Bandung, W Java (ANTARA) – Commerce Minister Muhammad Lutfi called on industries to work closely with the government to stabilize the price of cooking oil by providing buffer stock.

“We must not ignore it and we must cooperate. Here we have called on the industry to provide a buffer stock, so that (the price increase) is not a burden on consumers,” Lutfi noted on the sidelines. of a coordination meeting on the provision of basic needs ahead of the Christmas and New Year celebrations here on Monday.

According to the minister, the stock of cooking oil has reached 624,000 liters, sufficient to meet demand for a month and a half.

Related News: Cooking Oil, Eggs and Cigarettes Drive Inflation in August: BI

The recent increase in the price of the raw material was caused by the increase in the price of crude palm oil on the international market.

The price of CPO reached US $ 1,250 per tonne, going from US $ 500 to US $ 700 per tonne previously.

The ministry worked in coordination with cooking oil producers to get 11 million liters of cooking oil to market to avoid a rise in the price of the product.

“I hope that by this week the oil will be delivered to the market,” he said.

Related News: Lutfi Ensures Availability of Basic Products Before Christmas and New Years

Related news: Indonesia posts $ 5.73 billion in trade surplus in October 2021

Steve R. Hansen