IDNEWSNOW.COM, Jakarta – The National Police is continuing to monitor the one-price cooking oil price policy in Indonesia, and so far, it has not found any indication of hoarding or ‘panic buying’ that could cause a supply shortage.
Head of the Food Task Force of National Police, Inspector General Helmy Santika, made the remark at the National Police Force Headquarters here on Monday.
“There is none (hoarding) yet. Our team continues to move to West Java, Central Java, especially in Java,” he said.
Business players had expressed concerns over the implementation of the Cooking Oil Highest Retail Price (HET) policy, which kicked off on February 1, 2022, he said adding, it had caused them to withhold sales.
“Because business players bought the previous stock of oil at a higher price,” he explained.
Thus, the police force is disseminating information and educating business players to help them understand that the difference in the selling price of cooking oil would be taken care of by the government to prevent losses to them, Santika said.
The most important thing is for the business players to understand that the government would cover the difference in the new price of cooking oil and the old one, he added.
“But holding back the goods is wrong,” he remarked.
Meanwhile, deputy chief of the Food Task Force, Brigadier General Whisnu Hermawan, said that the lack of cooking oil supply in modern retail has been more due to market mechanisms and consumer behavior. The economic principles dictate the price at which consumers buy premium packaged cooking oil sold in modern retail stores, he added.
“The lack of cooking oil supply in modern retail is only idnewsnowrary because it is currently a transition period; starting tomorrow, February 1, 2022, the HET for cooking oil according to type will be applied, which is regulated in Trade Minister’s Regulation No. 6 of 2022,” Hermawan informed.
The Trade Minister issued the regulation on the Highest Retail Price (HET) for palm cooking oil, and it will take effect starting February 2022, he added.
The regulation is a continuation of the government’s efforts to ensure the availability of cooking oil at affordable prices for households and micro, small, and medium enterprises (MSMEs).
Read: Trade Ministry Ensures Cooking Oil Supply Increases Ahead of HET Implementation
ANTARA
