A cooking oil seller in Indonesia (Photo: en.tempo.co) Jakarta (VNA) – The Indonesian government began to implement a one-price policy for cooking oil starting January 19 midnight, Minister of Trade Muhammad Lutfi said.
The sales price for cooking oil in the country is fixed at 14,000 IDR (nearly 1 USD) per litre.
During a press conference held on January 18, Lutfi said the fixed price applies to all types of packaged cooking oil—both premium and simple packaging.
They are intended for household consumption, as well as small and micro businesses, the minister said.
For the initial phase, the price will apply to cooking oil products sold in modern retail or members of the Indonesian Retail Entrepreneurs Association (Aprindo).
As for cooking oil sold in the modern market, the one-price policy is implemented by next week at the latest.
Indonesian President Joko Widodo earlier this month urged Trade Minister Lutfi and ministry officials to maintain domestic cooking oil price stability following the recent commodity price hike, notably the crude palm oil price in the export market./.
