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Price of Packaged Cooking Oil Adjusted to the Market, HET Revoked?

Jakarta

Coordinating Minister for the Economy Airlangga Hartarto said the price of packaged cooking oil would be adjusted to the economic price. That way, the price of packaged cooking oil will follow the market price.

Airlangga said that with this policy, cooking oil will be available in modern markets as well as traditional markets. However, he did not mention whether the highest retail price (HET) for packaged cooking oil would be revoked.

“The price of other packaged (cooking oil) will of course adjust to the value rather than the economy, so of course we hope that with this economic value palm oil will be available in modern markets as well as in traditional markets,” Airlangga said in a virtual press conference, Tuesday (15/15). 3/2022).

Previously, the price of packaged cooking oil itself was regulated by HET. Premium packaged cooking oil is pegged at Rp. 14,000 per liter, and simple packaging is set at Rp. 13,500 per liter.

Meanwhile, the HET for bulk cooking oil will be adjusted to Rp 14,000 per liter, up from the previous Rp 11,500 per liter. This was conveyed by the National Police Chief Listyo Sigit in the same press conference.

Listyo Sigit also stated that his staff is ready to oversee the guarantee of distribution and availability of bulk oil in the market.

“Therefore, according to what was conveyed by the Coordinating Minister for the Economy regarding the change in the price of bulk oil to Rp. 14,000 for HET, we from the police are ready to oversee so that the guarantee of distribution and availability in the market is really real on the ground,” said Listyo Sigit.

Previously, the Ombudsman of the Republic of Indonesia proposed to the government to release HET on packaged cooking oil. This is done so that the scarcity of cooking oil in the market can be resolved.

Ombudsman member Yeka Hendra Fatika stated that the disparity in real prices in the market with HET prices made speculators attempt to hoard and smuggle consumption cooking oil into the market.

By releasing HET, the disparity between the HET price and the real price can be lost. There is no longer any stockpiled oil supply.

“The government must eliminate price disparities by releasing prices back to the market mechanism. However, they must set a DMO to ensure the availability of cooking oil,” Yeka said in a virtual discussion this afternoon.

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