EKBIS.CO, TANGERANG -- Minister of Trade (Mendag) Zulkifli Hasan (Zulhas) said the highest retail price (HET) for cooking oil under the MinyaKita brand will increase by IDR 1,000 to IDR 15,000 per liter from the previous IDR 14,000.

"I propose an increase of IDR 1,000. However, we are currently discussing the proposed price increase," Zulhas said in Tangerang, on Monday (May 6,2024).

The highest retail price for cooking oil products, especially MinyaKita, is proposed by the Ministry of Trade to increase by only IDR 1,000. So, the highest retail value is IDR 15,000.

Zulhas explained that the price increase is likely to be carried out in the not-too-distant future. This will be realized after the discussion on the proposed price increase is completed.

"So it will probably be IDR 15 thousand (the price of MinyaKita per liter). But once again we will discuss that," Zulhas added.

He said the MinyaKita price adjustment was due to packaging production costs. However, to change the price of Minyakita, it must be followed by adjustments to existing regulations.

"That's why we are discussing this to be adjusted. Because it is not our own decision," he said.

HET for packaged cooking oil is priced at IDR 14,000 per liter and bulk oil at IDR 15,500 per kilogram. This rule is stated in Circular Letter Number 03 of 2023 concerning Guidelines for the Sale of People's Cooking Oil issued by the Directorate General of Domestic Trade, Ministry of Trade. The regulation also prohibits the sale of people's cooking oil in bundling or the sale of several products packaged into one package.