Indonesia sets fixed cooking oil price

The Indonesian government began to implement a one-price policy for cooking oil starting January 19 midnight, Minister of Trade Muhammad Lutfi said.

Wednesday, January 19, 2022 09:52

Indonesia sets fixed cooking oil price ảnh 1

A cooking oil seller in Indonesia (Photo: en.tempo.co)

Jakarta (VNA) – The Indonesian government beganto implement a one-price policy for cooking oil starting January 19 midnight, Ministerof Trade Muhammad Lutfi said.

The sales price for cooking oil in the country is fixed at 14,000IDR (nearly 1 USD) per litre.

During a press conference held on January 18, Lutfi said thefixed price applies to all types of packaged cooking oil—both premium andsimple packaging.

They are intended for household consumption, as well assmall and micro businesses, the minister said.

For the initial phase, the price will apply to cooking oilproducts sold in modern retail or members of the Indonesian RetailEntrepreneurs Association (Aprindo).

As for cooking oil sold in the modern market, the one-pricepolicy is implemented by next week at the latest.

Indonesian President Joko Widodo earlier this month urgedTrade Minister Lutfi and ministry officials to maintain domestic cooking oilprice stability following the recent commodity price hike, notably the crudepalm oil price in the export market./.

VNA

#Indonesia #one-price policy #cooking oil #crude palm oil price #vietnamplus #vietnam news agency

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