Jakarta's Bulk Cooking Oil Price Drops Rp250

Economics & Macro

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Dzulfiqar Fathur Rahman 18/05/2022 18:50 WIB

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In the past week, the price of bulk cooking oil in DKI Jakarta has dropped by approximately Rp250 during the period of May 11-18, 2022.

Cooking Oil Price in DKI Jakarta (May 11-18, 2022)

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Jakarta's Bulk Cooking Oil Price Drops Rp250

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Cooking Oil Price in DKI Jakarta (May 11-18, 2022)

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Almost three weeks have passed since the government banned the export of cooking oil and its raw materials. However, until now, the price of bulk cooking oil in DKI Jakarta has not shown a significant decrease.

According to data from the Ministry of Trade (Kemendag), the price of bulk cooking oil was still Rp18,480 per liter on Wednesday (18/5/2022).

Calculated over the past week, this price has only dropped by approximately Rp250 during the period of May 11-18, 2022.

This price is still far above the Highest Retail Price (HET) set by the government at Rp14,000 per liter, and is even the same as the price on April 28, 2022, when the export ban was implemented.

According to data from the Central Statistics Agency (BPS), the annual inflation of the food, beverage, and tobacco group reached 5.2% in April 2022, approximately twice as high as the previous year.

Cooking oil is one of the products that significantly contributes to food price inflation.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."