"We will hopefully start production by no more than the beginning of next week. Hopefully, it will start by the end of this week," he said during an online press conference on Wednesday.
The supply of low-priced cooking oil would involve at least 70 cooking oil industries and 225 packers, he informed. However, for the initial supply, the government will cooperate with five major cooking oil industries, he said.
"We will ask the five majors to immediately allocate simple packaged cooking oil to make it work," the minister added.
Lutfi said the government is targeting to distribute low-priced cooking oil by the end of next week to all markets under the supervision of the Trade Ministry.
Related news: Gov't to provide cooking oil at Rp14,000 per liter
"Hopefully, this can provide affordably priced cooking oil for the public, and can provide added value to the community and a sense of safety because the form of distribution of cooking oil is simple packaged cooking oil," Lutfi said.
He also emphasized that the ministry will continue to maintain the supply of premium packaged cooking oil.
Meanwhile, managing director of the Palm Oil Plantation Fund Management Agency, Eddy Abdurrachman, said the agency has been tasked with eliminating the price difference between the market price and the highest retail price set by the minister.
"With funds of approximately Rp3.6 trillion, including VAT, I have to inform you that, thank God, the budget from Palm Oil Plantation Fund Management Agency will be able to fund— God willing— this program for up to six months," he informed.
Related news: Trade Minister asked to maintain cooking oil price stability
Translator: Kuntum Khaira R, Mecca Yumna
Editor: Rahmad Nasution
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