"Insya Allah (God Willing), in the Ramadan month the cooking oil stocks are safe and their prices will be normal," Lutfi said.
Lutfi delivered his statement during his working visit to the integrated market of Al Mahirah Lamdingin, Banda Aceh City, to check the availability and price of cooking oil there.
He guaranteed that in addition to cooking oil, the Trade Ministry also ensures there would be no price fluctuations on staple food supplies, such as sugar and soybeans.
"I would make sure that (the price of) sugar will not fluctuate. What we are currently focusing on is the problem of soybeans, as domestic supplies are not enough, with more than 85 percent of soybean stocks being imported," he noted.
Related news: Minister visits Banda Aceh market to monitor cooking oil prices
Additionally, the Ministry of Trade would continue to minimize the impact of the availability of beef, as Australia has announced it is limiting beef exports in 2022.
"We are very cautious, because Australia just announced they will only sell 40 percent of their normal (amount of beef exports) this year," he said.
Lutfi invited the local governments to work together in reducing the price of meat, given the increase in international prices.
Recently, on Friday, February 25, Trade Minister Muhammad Lutfi visited the Angso Duo Modern Market in Jambi Province to observe the supply of the market's cooking oil.
The minister has warned all cooking oil retail business players to not abuse their authority in setting prices.
Meanwhile, the price of premium packaged oil has been set based on the Retail Price Ceiling (HET) at Rp14 thousand per liter.
Related news: Minister coordinates with local gov'ts to ensure cooking oil supply
Translator: Rahmat F, Kenzu T
Editor: Rahmad Nasution
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