PALMOILMAGAZINE, JAKARTA – Minister of Trade Zulkifli Hasan issued Regulation of Minister of Trade (RMT) Number 18/2024 concerning the governance of packaged palm cooking oil and people’s packaged palm cooking oil.
Effective from August 14, 2024, this regulation introduces significant changes to the Domestic Market Obligation (DMO) for palm cooking oil, which is now exclusively available under the Minyakita brand.
Zulkifli Hasan stated that the new regulation aims to increase the supply of Minyakita in the market and stabilize its price, ensuring it remains an affordable option for consumers. The goal is for Minyakita to meet the public’s needs at an economical price compared to premium brands.
Also Read: High Prices and Scarcity of MinyaKita Palm Cooking Oil Lead to Consumer Complaints
Zulkifli Hasan said that this would be about to escalate the supply of Minyakita in the markets and maintain its stable price as the important daily needs in the society. Minyakita that many consumers bought, should fulfill the people’s needs in economic price than premium brands.
“The regulation would be the way to increase Minyakita supplies and the people would be able to purchase qualified palm cooking oil in economic price,” he said, as in the official statement to Palmoilmagazine.com recently in Jakarta.
Minyakita, even though it was produced in DMO scheme, is not subsidy. This is the contribution palm oil downstream sector exporters that allocated it for this country. Zulkifli thought, the new DMO scheme should increase palm cooking oil price in the markets.
Also Read: Rising Palm Cooking Oil Prices in Many Markets Despite Lack of Policy Change
The new regulation also perfected the previous regulation, which was, RMT Number 49 / 2022. Besides the change of DMO formulation to be Minyakita, the packages offered would be more various, starting from 500 milliliters to 5 liters. He said, it would be significant to be used for being more qualified, cleaner, safer, and halal than bulk palm cooking oil.
Its price should also be stable for the people though there would be highest retail price (HRP) from Rp 14.000/liter to be Rp 15.700/liter. This adjustment price, according to him, would be as the consideration for the materials and people’s buying capacity. “We did deeper study to confirm the balance between the producers’ capability and the people’s buying capability,” he said.
RMT Number 18 / 2024 also regulated that every palm oil derivative product exporter that needed export rights, should distribute the peole’s palm cooking oil in the form of Minyakita. The export rights for the exporters would be published if the people’s palm cooking oil was got by registered distributors in the Sistem Informasi Minyak Goreng Curah (SIMIRAH). The distribution target of Minyakita would be about 250.000 tons per month.
As part of the transition of the new regulation, the stakeholders are still getting permits to distribute crude palm oil (CPO) and bulk palm cooking oil, selling Minyakita in old packages for the next 90 days. Besides, the stakeholders that still got Minyakita stocks, out of the new regulations, should sell it until the next 30 days to end theirs. (P2)
