Mopping up the Cooking Oil Mess
The new rules add to at least nine regulations regarding CPO and its derivative products created since November 2021 in an effort to control the increase in cooking oil prices.
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Residents buy packaged cooking oil which is sold for Rp. 14,000 per liter at Rusunawa KS Tubun, West Jakarta, Wednesday (19/1/2022).
The government has announced a new regulation on cooking oil. They have revoked the oil subsidy while stipulating the obligation for exporters to supply domestic needs.
The termination of price subsidies for cooking oil took effect on 1 June 2022. On 23 May 2022, exports of crude palm oil (CPO) and its derivatives were reopened after being banned. Along with the abolition of subsidies, palm oil companies participating in the cooking oil subsidy program have two options for export regulations.