The End of the Era of Cheap Cooking Oil
The days of getting cheap cooking oil may not soon be felt by Indian consumers again. Although the price correction is expected to start in January 2022,
cooking oil prices in 2022 will continue to be 25-30 percent more expensive than 2019. “The basic price of cooking oil will not fall below 100 rupees per kilogram (kg) to 105 rupees per kg in 2020. this. In 2019, the average price is 75 rupees per kg,” said Sandeep Bajoria, CEO of Sunvin Group, a consulting firm in India. Indonesia also suffered a similar fate, even more tragic than India. In 2021, Indonesia will be the number one producer of CPO in the world because it produces 58.3 percent of CPO from the total world CPO production. However, Indonesia is not able to control the increase in CPO prices, even domestic palm cooking oil prices have skyrocketed. Currently, the average national price for bulk, simple and premium cooking oil is around Rp 18,000-Rp 20,000 per liter. Previously, cooking oil could be obtained at a price of Rp 9,500-Rp 14,000 per liter. This happens because many palm cooking oil factories are not integrated with the plantation and palm oil industry. This condition causes cooking oil producers to buy CPO according to the international price reference. This year, consumers in Indonesia will also not enjoy cheap cooking oil prices after the one-price or subsidized cooking oil program ends. The government has also changed the highest retail price (HET) of cooking oil from Rp 11,000 per liter to Rp 14,000 per liter.
|•SOURCE•| Articles :KOMPAS | Image :LINE |
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