Trade Minister Admits Cooking Oil Prices Rise, But Denies Shortage

Jakarta - Trade Minister Budi Santoso, alias Busan, has acknowledged that cooking oil prices have risen following the surge in plastic prices. All cooking oil products use plastic packaging, thus being affected by the increase in that commodity. “Yes, there is a slight increase because their packaging is all plastic,” Busan said when met at JIExpo, Kemayoran, Jakarta, on Thursday (16/4/2026). Producers are assessed to still be able to bear the HET (highest retail price) despite the creeping rise in crude palm oil (CPO) prices due to the war in West Asia. “Now it’s still possible. Yes, it’s still possible; that’s its function to stabilise prices so that other prices don’t rise,” he stated. Busan also said that cooking oil stocks in the market are plentiful, both in traditional markets and modern retail. He emphasised that cooking oil is not just MinyaKita. There are many other brands that the public can buy. MinyaKita is only the brand for domestic market obligation (DMO) stocks that producers must fulfil. “MinyaKita is DMO oil, DMO oil from exports, so the quantity is limited,” Busan explained. As a result, when MinyaKita stocks in the market are low or prices rise, it seems as if there is a shortage of cooking oil. “But actually, there is plenty. There is second brand oil; we ask producers to make second brand oil,” Busan said.