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Managing Cooking Oil
The price of palm oil-based cooking oil is again soaring amid the government’s attempt to fulfill its basic supplies. The causes of the price rise need to be overcome.
A cooking oil price hike occurred at the end of 2021 up to the first quarter of 2022. The government promptly restricted the export of crude palm oil (CPO) and several derivatives for their diversion to supply the domestic cooking oil industry.
The other policy was the supply of subsidized cooking oil with the brand Minyakita. The retail price ceiling (HET) was fixed at Rp 14,000 per liter. In January and early February 2023, the price of Minyakita was higher than the HET. In several markets it was unavailable.