To Stabilize Palm Cooking Oil Price, Ministry of Trade Gets Subsidy from PFMA

To Stabilize Palm Cooking Oil Price, Ministry of Trade Gets Subsidy from PFMA

InfoSAWIT, JAKARTA – Ministry of Trade commits to make sure that palm cooking oil stocks remain exist in national level within economic price. The simple one liter - palm cooking oil package sold about Rp 14.000 during Christmas 2021 and New Year 2022 keeps running in modern retails and would be prolonged in traditional markets and bazar.

Minister of Trade, Muhammad Lutfi told, palm cooking oil in simple package is the government’s response to the increasing price in the late days. To keep it running (sold about Rp 14.000 per liter), the government will get subsidy instrument from Palm Oil Plantation Fund Management Agency (PFMA).

“The government coordinated by Coordinator Ministry in Economy will use fund from PFMA to food needs, namely to stabilize palm cooking oil price,” he said, as in the official statement to InfoSAWIT, Tuesday (4/1/2022).

Besides, Ministry of Trade coordinated with distributors, producers, regional governments to assure that palm cooking oil stocks are available in traditional markets in order to get it easily.

“We also urge regional governments, namely the agency dealing with trade to conduct palm cooking oil bazar in each region so that the people get the advantage,” he said.

He also said, President Joko Widodo mandated to stabilize daily needs price. In the pandemic, Ministry of Trade did many things to make sure they are stable.

“The government seriously notices food price stability, not only palm cooking oil, but also others. President Joko Widodo mandated and we do our best so that the people can get normal price,” Lutfi said.

The expensive palm cooking oil happens for the increasing crude palm oil (CPO) price in the international level which is US$ 1.340/MT. Ministry of Trade noticed until 3 January 2022, bulk palm cooking oil was Rp 17.900 per liter, simple package palm cooking oil was Rp 18.500 per liter, and premium palm cooking oil was Rp 20.300 per liter. (T2)