Based on data (which shows) supply being increasingly (stocked up), and the downward trend in prices in various places, as well as to maintain the price of fresh fruit bunches from farmers, the president has decided to lift the export ban on May 23 oJakarta (ANTARA) - On account of the increasingly stable supply and price of cooking oil, the government took the decision to lift the temporary ban on cooking oil and its raw materials.
"Based on data (which shows) supply being increasingly (stocked up), and the downward trend in prices in various places, as well as to maintain the price of fresh fruit bunches from farmers, the president has decided to lift the export ban on May 23 or Monday next week," Coordinating Minister for Economic Affairs Airlangga Hartarto noted during an online press conference on Friday.
The minister remarked that following the imposition of a temporary ban on the export of cooking oil and its raw materials, as of April 28, 2022, the government expedited measures to coordinate monitoring and evaluation of its implementation in practice, as a means to ensure that cooking oil for the public was available at affordable prices.
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The domestic demand for bulk cooking oil was 194,634 tons per month, he stated. Prior to the ban being imposed, the supply of bulk cooking oil in March had only reached 64,626.52 tons, or 33.2 percent of the demand per month.
However, after the export ban policy took effect, the supply of bulk cooking oil in April increased to 211,638.65 tons per month, or 108.74 percent of the demand, which exceeded the national monthly requirement.
In terms of price stabilization, bulk cooking oil was valued at Rp19,800 per liter prior to the ban on exports. After the policy was applied, the price declined to around Rp17,200 to Rp17,500 per liter, Minister Hartarto noted.
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Through an official statement released on Thursday, May 19, President Joko Widodo removed the ban on exports of palm oil products, including cooking oil and crude palm oil.
"Based on the current situation regarding the supply and price of cooking oil, and considering that there are 17 million workers in the palm oil industry, (including) farmers and workers and other supporting staff, I have decided that cooking oil exports will (commence once more) on Monday, May 23, 2022," he remarked.
On Thursday, April 28, 2022, President Jokowi officially banned the export of cooking oil and its derivative raw materials, including crude palm oil. The policy, which was in effect for approximately three weeks, was a revision of the previous government's statement that still allowed the export of crude palm oil.
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Translator: Kuntum Khaira R, Mecca Yumna
Editor: Fardah Assegaf
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