JAKARTA (B – Trams ) Indonesian Government First Trying To Fullfill Their Domestic Local Dmand Of Palm Oil As Minister of Trade Muhammad Lutfi On Thursday reviewed implementation of the highest retail price (HET) policy for cooking oil in the Indonesian market Kramat Jati, JakartaEast.
The Trade Minister Lutfi conveyed the supply of cooking oil to the market people keep walking, and HET cooking oil will be effective in the people’s market in three to the next four days. that cooking oil has been disbursed according to the highest retail price.
He also asked for the cooperation of all parties, from the owners of Crude Palm Oil (CPO) to the owners of cooking oil factories and their distribution.”We are still trying to enter the traditional market, especially for bulk oil according to the price,”
Also Director General Of Domestic Trade Of Indonesian Ministry Said, The mechanism Of CPO And OLEIN Export Will Continue As long As 20% of domestic demand Meanwhile To compliy This it Introduced Domestic Market Bond (DMO) Policy
The Increase Of CPO Price Pushed By the Fear Of Supply Shortage In Indonesia (World Largest Producer) And Also Caused By Low Production By Various Factors , there is Higher growth of demand then the Production that Pushed Up Price Increase.While Malaysia also Facing Shortage Of Labour Thats Causes Low Production And The Demand Is More Then The Preoduction .
Thanks Abdul Hammed (Analyst)