Rising Palm Cooking Oil Prices in Many Markets Despite Lack of Policy Change

Palm Oil Magazine
Advocating for Transparency in In many markets, palm cooking oil that the government produced in Minyakita, got more expensive ever since the idea was delivered. by: Special

PALMOILMAGAZINE, JAKARTA – In recent weeks, the government announced plans to raise the highest retail price (HRP) of palm cooking oil. Although the new HRP has not been finalized, palm cooking oil prices have already increased in many markets.

The Ministry of Trade stated that the HRP increase is related to the domestic market obligation (DMO) for palm cooking oil, aimed at sustaining the bulk palm cooking oil trade. Bambang Wisnubroto, Director of Daily Needs and Important Goods at the Ministry of Trade, noted that these policies could raise inflation by approximately 0.09 to 0.14 percent, indicating that the HRP and DMO adjustments for palm cooking oil will likely contribute to a modest increase in inflation.

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In many markets, palm cooking oil that the government produced in Minyakita, got more expensive ever since the idea was delivered. “MinyaKita is Rp 16 thousand,” a people from DKI Jakarta, Isna said to Palmoilmagazine.com, Wednesday (24/7/2024).

Also Read: Advocating for Transparency in Palm Oil Audits

What Palmoilmagazine.com knew from the markets, palm cooking oil price was relatively stabe. But it got more expensive in the agent levels. Some agents of Minyakita in Cisalak, Depok was at Rp 15 thousand to Rp 16 thousand. It was the same in Cibubur, Jakarta.

The written price on the package of MinyaKita, it was Rp 14 thousand per liter. For many people used MinyaKita for being economic, the increasing price made the people rethink twice to buy palm cooking oil.

“If it is Rp 16 thousand per liter, I would better buy the better one,” Isna said. (P4)

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