Jakarta: The Indonesian Government has announced the implementation of one price cooking oil at Rp14,000 per liter nationwide.
"The adjustment period for traditional markets is no later than one week from the effective date, ”Coordinating Minister for Economic Affairs Airlangga Hartarto said as quoted from the Ministry’s official website, Wednesday.
In line with the previous policy, the Indonesian Government has ensured the public to buy cooking oil at an affordable price, namely Rp14,000 per liter, in the package of one liter, two liters, five liters, and 25 liters.
"We have decided to use funding support from the Palm Oil Plantation Fund Management Agency (BPDPKS) amounting to Rp7.6 trillion to subsidize the price gap of cooking oil," Airlangga said.
The Indonesian Government will provide 250 million liters of cooking oil with special price per month for six months and it will continue to monitor and evaluate the implementation of the policy at least once a month.
Previously, President Joko Widodo (Jokowi) in January had ordered his ranks to ensure the cooking oil price remain affordable for the public despite skyrocketing world CPO price.
"The needs of the people are the Government’s main priority. The price of cooking oil must remain affordable. Minister of Trade can carry out market operations again to keep the price under control if necessary," President Jokowi remarked.