We have approximately 715 thousand liters of cooking oil stock ready to be distributed to the public until the end of this month
Jakarta (ANTARA) - State-Owned Enterprises (SOEs) Minister Erick Thohir highlighted the ministry's commitment to supporting the government's efforts to stabilize cooking oil prices.

"The ministry is committed to supporting the government's efforts for stabilizing prices and maintaining the availability of cooking oil stocks," Thohir stated as quoted from his official Instagram account @erickthohir, Friday.

Through Food Holding (ID Food) and State-Owned plantation holding PTPN, SOEs had conducted cooking oil market operations in several areas. The total distribution reaches 4.3 million liters from early February to February 21, 2022, he noted.

"We have approximately 715 thousand liters of cooking oil stock ready to be distributed to the public until the end of this month," he remarked.

Thohir later affirmed that this effort had become one of the duties and responsibilities of SOEs by not only conducting corporate functions but also being obliged to serve the community.

Earlier, Thohir stated that state enterprises had held additional market operations for cooking oil in accordance with the direction of President Joko Widodo (Jokowi).

The minister noted that the Plantation Holding subsidiary, PT Industri Nabati Lestari (INL), is developing the derivative product of crude palm oil (CPO). Cooking oil had begun to be offered in simple packaging during the surge in the price of cooking oil last year, Thohir remarked.

The price of INL oil was in line with the government's expectations, at Rp14 thousand per liter, available in two packages of 450 ml and 900 ml, Thohir stated.

The minister emphasized that state-owned enterprises must capitalize on this momentum by starting to introduce cooking oil in simple packaging specifically for traditional markets with the INL brand.

Starting January 2022, SOEs have had three cooking oil products with different segments: Nusakita, with the 100-percent price index from the market leader (Bimoli); Salvaco, with the 92-95 percent price index from Bimoli; and simple packaging INL, with 88- 90 percent price index from Bimoli.

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Translator: Aji Cakti, Resinta Sulistiyand
Editor: Sri Haryati
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