Indonesian Ministry of Industry to Stock Up 1.2 Billion Liters of Cooking Oil, Maintain Affordable Prices

JAKARTADAILY.ID – The Indonesian Ministry of Industry stated that it will ensure cooking oil prices remain affordable by stocking up 1.2 billion liters of palm-based cooking oil for the next six months. 

The step was taken after cooking oil prices surged in the last few weeks, making the household essential item unaffordable to some. 

The Ministry of Industry encourages the Palm Cooking Oil (MGS) industry players to contribute to the government program. The main objective is to maintain the stability of cooking oil prices in the community.

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"This policy is a manifestation of the government's efforts to support the provision of affordable food for the community," said the Director-General of Agro-Industry at the Ministry of Industry, Putu Juli Ardika in Jakarta, on Tuesday.

Putu said that as many as 70 business people in the MGS industry would be involved in providing this simple packaged cooking oil, supported by around 200 packers.

“For the MGS industry who wants to be involved in this government program, the Ministry of Industry will relax the MGS SNI (Indonesian national standard) mandatory for the MGS industry that uses the MINYAKITA brand. So, if the company is registered in the MGS supply program with the MINYAKITA brand, we will facilitate the acceleration of the SNI certification," Putu said.

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In order to see the readiness of the cooking oil industry sector in an effort to meet the needs of the community, the Directorate General of Agro-Industry has visited a number of producers, including PT Salim Ivomas Pratama Tbk (SIMP) in Jakarta, PT Sinar Mas Agro Resources and Technology Tbk (SMART) in Bekasi, to PT Multimas Nabati Asahan in Serang, Banten.

"We appreciate the efforts and commitment of the cooking oil industry players who have fully supported the government's policy in maintaining price stability," he concluded.

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The government has taken a policy to provide cooking oil for the community at an affordable price of around IDR 14,000 per liter at the consumer level which applies throughout Indonesia. (*)