Indonesia works to prevent speculation in cooking oil

Packaged cooking oil of the Minyakita brand. (Photo:ANTARA)

Jakarta (VNA) – 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.

Minyakita is a new packaged cooking oil launched recently to meet domestic demand, particularly supporting the poor given escalating prices due to inflation, Luhut said.

This is the government's solution to stabilise people's lives, so the National Food Supervision Task Force will vigorously implement measures to prevent speculation in this product, he noted, adding that violating individuals and organisations will have to stop doing business and may even be prosecuted.

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