Plastic Prices Surge, Trade Minister Sets HET for Minyakita to Remain the Same

Jakarta, CNBC Indonesia - Trade Minister Budi Santoso has assured that there are no plans to increase the Maximum Retail Price (HET) for the people’s cooking oil brand Minyakita, despite mounting cost pressures from the packaging side of plastic. Budi emphasised that the Minyakita pricing policy still refers to the currently applicable HET of Rp15,700 per litre. “No, not yet (plans for HET relaxation on Minyakita),” said Budi when met at the Office of the Coordinating Ministry for Food, Jakarta, on Tuesday (21/4/2026). He stated that based on monitoring from the Market and Basic Needs Monitoring System (SP2KP) of the Ministry of Trade, the current Minyakita price is slightly above HET, at Rp15,942 per litre. “For the Minyakita cooking oil price, I see in SP2KP it’s around Rp15,900, from the HET of 15,700,” he mentioned. Budi explained that his side has communicated with producers and ensured that the cooking oil supply is in a safe condition. “Just now we have communicated with the producers, who in principle have stock available, no problems. So supply availability is there,” he said. Nevertheless, he acknowledged cost pressures from the plastic packaging side, which impacts the prices of premium packaged cooking oil and bulk cooking oil at the consumer level. “Indeed, one of the effects of the increase is due to plastic prices. Just now we also communicated via WA (WhatsApp) with the plastic industry, in principle plastic production continues with ongoing efforts to import raw materials to ensure sufficiency. So hopefully everything can be resolved,” he clarified. The rise in packaging costs is now reflected in the prices of premium packaged cooking oil in several regions. Budi acknowledged that price movements in the premium segment have even approached Rp22,000 per litre, with packaging as one of the main drivers. “Yes, as I said earlier, one of the factors is packaging, as most packaging is plastic. Now from the upstream side. If the oil availability is no problem, but the plastic factor. That’s why the plastic needs to be resolved,” Budi stated. Regarding price stabilisation, he emphasised that improvement does not only depend on oil supply but also the plastic supply chain. “Yes, as soon as possible, because we don’t have to talk about the oil alone. As I said earlier, most of the factor is from plastic. So this plastic also needs to be resolved,” he said. Meanwhile, Agriculture Minister Amran Sulaiman also pushed for no increase in the HET for the people’s cooking oil brand Minyakita, just because of the plastic price rise. According to him, the government does not have plans in the near future to raise the Minyakita HET. “Don’t raise it,” said Amran at his office, Jakarta, on Wednesday (15/4/2026).