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Indonesia works to prevent speculation in cooking oil

Indonesia’s law enforcement agency will step up the implementation of measures to prevent speculation in cooking oil products in the context of inflation, Coordinating Minister for Maritime Affairs and Investment Luhut Panjaitan said on February 9.
Indonesia works to prevent speculation in cooking oil ảnh 1Packaged cooking oil of the Minyakita brand. (Photo:ANTARA)

Jakarta (VNA) – Indonesia’slaw enforcement agency will step up the implementation of measures to prevent speculation in cooking oil products in the context of inflation, Coordinating Minister for Maritime Affairs and Investment Luhut Panjaitan said on February 9.

Minyakita is a new packaged cookingoil launched recently to meet domestic demand, particularlysupporting the poor given escalating prices due to inflation, Luhut said.

This is the government'ssolution to stabilise people's lives, so the National Food Supervision TaskForce will vigorously implement measures to prevent speculation in thisproduct, he noted, adding that violating individuals and organisations willhave to stop doing business and may even be prosecuted.

Besides, the government will conduct a weekly review of Oilita, a collaboration programme betweenthe government and cooking oil producers through a plan to supplement 50% of thedomestic cooking oil supply during the Eid 2023 –  the festival thatmarks the end of Ramadan, the Muslim holy month of fasting./.

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