The Indonesian government, through the Ministry of Trade, will continue to control food prices. This can be seen in the extension of the Highest Retail Price (HET) regulations for cooking oil, sugar, and beef.
The government sets the HET for bulk cooking oil at Rp 10,500 per liter, and for simple packaged cooking oil at Rp 11,000 per liter. Meanwhile, the HET for sugar is set at Rp 12,500 per kg, and the price of frozen beef at Rp 80,000 per kg.
Based on the agreement, the HET for these three commodities was to control price fluctuations in anticipation of Ramadan and Eid al-Fitr and was to end on September 30, 2017. However, the government intends to continue price controls.
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