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To Stabilize Palm Cooking Oil Price, The Government Prepared Rp 3,6 Billion from PFMA



To Stabilize Palm Cooking Oil Price, The Government Prepared Rp 3,6 Billion from PFMA

InfoSAWIT, JAKARTA – To respond expensive palm cooking oil because of expensive crude palm oil (CPO) in the globe, the government decided to stabilize it by taking fund subsidy from Palm Oil Plantation Fund Management Agency (PFMA).

Coordinator Minister in Economy, Airlangga Hartarto told, the government decided that palm cooking oil is Rp 14.000 per liter in the consumer level in Indonesia.

Simple packaged palm cooking oil with special price will be available for about 1,2 million liters for about 6 months and could be prolonged as what it needs. The fund to overcome the gap price, value added tax and surveyor would be deriving from Palm Oil Plantation Fund Management Agency (PFMA) for about Rp 3,6 billion. The gap price means production and distribution gap price with retailer price.

The government ordered Minister of Trade, Minister of Industry, Minister of Finance, and Director of PFMA to accelerate the implementation of the policy.

Minister of Trade will be in charge to assure that palm cooking oil stocks are available in economic price, prepare the regulation and mechanism namely about highest retailer price.

Minister of Finance will prepare the regulation about procedures to get and distribute added value tax on palm cooking oil price gap by PFMA by adopting Regulation of General Director of Tax Number 35 / 2015 about Added Value Tax Deposit and Collection on Price Gap of Vegetable oil (biodiesel) by PFMA.

Then PFMA will be in charge to prepare the fund and payment on market price gap and highest retailer price of simple packaged palm cooking oil for the next six months and the added value tax, prepare fund and decide independent surveyor, conduct memorandum of understanding with simple packaged palm cooking oil producers according to the lists from Ministry of Trade.

Minister of Trade, Muhammad Lutfi told, to stabilize palm cooking oil price, the government is running palm cooking oil bazar. “We actually have bazar about 11 million liters of palm cooking oil in 47 thousand shops in modern retailers. The realization reached 4 million liters and 7 million liters are ongoing,” he said in press briefing about palm cooking oil price in Jakarta, Wednesday (5/01/2022). (T2)