Heading to Ramadhan, Palm Oil DMO Increases to be 50 percent

Heading to Ramadhan, Palm Oil DMO Increases to be 50 percent

InfoSAWIT, JAKARTA – Coordinator Minister in Maritime and Investment, Luhut Binsar Pandjaitan told he knew that heading to Ramadhan bulk palm cooking oil gets more expensive. That is why the government still observes if palm cooking oil consumption gets shift from buying premium palm cooking oil to ‘Minyakita’, which is the way for the government to muffle expensive palm cooking oil in this country to be the same as the highest retail price (HRP) which is Rp.14.000/liter.

He also told the very expensive palm cooking oil could happen for domestic market obligation (DMO) supplies reduce namely from ‘Minyakita’. “The highest export rights that companies have, become disincentive to get DMO supply when exports are decreasing,” he said, as InfoSAWIT quoted from Pandjaitan’s official instagram recently. 

Apart from that, the very expensive palm cooking oil happens for distribution both from the indication of piling stocks and violation to get field HRP.

“The meeting among related ministries/institutions and palm cooking oil producers came to a conclusion that DMO supplies by palm cooking oil producers would be 50% heading to Lebaran,” he said.

Pandjaitan continued, the government decided to deposit some export rights of exporters which means, the exporters can still use their export rights after the situation gets cooling down.

“This is about to maintain the supplies in our country and stable price guarantee. For the businessmen, the government would escalate export multiplier incentive of ‘Minyakita’ so that the supply remains well,” he said.

He also confirmed to closely monitor, supervise based on ‘Simirah’ data and would sue every field violation. Ministry of Trade would re-open online complaint if any violation takes place in many markets and would follow up the complaints immediately.

“Hopefully these would help stabilize palm cooking oil price to be Rp 14.000 per liter and the people can get it easily and economically,” Pandjaitan said. (T2)