Minister of Trade: Cooking Oil Prices to Return to Normal as Late as End of February

JAKARTADAILY.ID - Minister of Trade Muhammad Lutfi is ensuring the availability of premium and basic cooking oil in packaged forms.

There is a cooking oil scarcity for the past weeks both at modern retailers and traditional markets. The scarcity is paired with the spike increase of price which has become a public complaint.

Lutfi is ensuring the stock availability of the Highest Retail Price cooking oil. He hopes the availability and stock will go back to normal as late as the end of February 2022.

“I will ensure in the next week all will go back to normal. And as late as the end of February everything will return to normal,” the minister said Thursday, February 17, 2022.

He explained the need for 280 million liters of cooking oil this February will be fulfilled before the end of the month. He claimed that his team has recently distributed a third of the demand for cooking oil.

“We need 270 million liters where a third has been fulfilled as of last Tuesday,” Lutfi said. “63 million has been distributed and [the situation] has slowly got better.”

He revealed there is an obstacle in the production and distribution which caused an inevitable shortage in the market.

Even so, Lutfi will still ensure the stock of cooking oil has started to go back to normal.

The article was translated from Pikiran-Rakyat.com's article titled "Mendag Jamin Harga Minyak Goreng Kembali Normal, Paling Lambat Akhir Februari".

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