Government agrees to increase maximum retail price for Minyakita

The Minister of Trade, Budi Santoso, has stated that the government will increase the maximum retail price (HET) for the people’s cooking oil, known as Minyakita, within the next two weeks. Speaking after a ministerial-level food coordination meeting at the Ministry of Trade office in Jakarta on Thursday, Budi confirmed the agreement to adjust the price ceiling.

Regarding the specific new price, Budi noted that a final consensus has not yet been reached, as the updated HET remains subject to further discussions between relevant ministries and agencies. The government’s decision to raise the price is being considered in response to recent increases in crude palm oil (CPO) prices.

Furthermore, the Ministry of Trade is closely monitoring the price of fresh fruit bunches (TBS), which has recently experienced a decline. Budi emphasised that the new HET will only be finalised once CPO and TBS prices have stabilised. The Minister aims to have the new price established within one to two weeks.

Currently, the HET for Minyakita is set at Rp15,700 per litre. The upcoming adjustment is driven purely by the rising costs of CPO raw materials and production expenses, which affect the economic viability of the subsidized cooking oil. Additionally, the adjustment is being made as the current HET has been in effect for over three years.