DMO Removed Due to High Price Disparity
A number of members of House Commission VI said the Trade Ministry had failed to intervene in the domestic cooking oil market and did not take firm action against large corporations.
/https%3A%2F%2Fasset.kgnewsroom.com%2Fphoto%2Fpre%2F2022%2F03%2F17%2F75032b10-58c1-47a6-bf40-0df85a5f302e_jpg.jpg){kind=logo}
A trader shows the bulk cooking oil that buyers are currently looking for after the price of packaged cooking oil rose to Rp 22,450 per liter at Petisah Market, Medan, North Sumatra, Thursday (17/3/2022)..
JAKARTA, KOMPAS – In addition to removing the retail price ceiling, the government has also decided to remove the obligation to supply the domestic market needs for crude palm oil and olein due the high disparity between export and domestic prices.
The decision was unveiled during a working meeting between the Commission VI of the House of Representatives, which oversees trade, industry, investment, cooperatives, small and medium enterprises and state-owned companies, with the Trade Ministry in Jakarta, Thursday (17/3/2022). The meeting was attended by Trade Minister Muhammad Lutfi and Deputy Trade Minister Jerry Sambuaga.