A unique incident in Indonesia: Indonesians are getting panic buying and making cooking oil scarce.

January 23, 2022. The Indonesian government applies a cooking oil price of Rp. 14,000 or about $1 per liter on January 19, 2022. This has caused many Indonesian people to flock to buy cooking oil on a large scale,

Meanwhile, the Minister of Trade, Muhammad Lutfi said, currently cooking oil, both premium packaging and simple packaging, will be sold at the equivalent price of Rp. 14,000 per liter. This program is expected to meet the needs of households as well as micro and small businesses. Lutfi also appealed to the public not to hoard or buy cooking oil for Rp. 14,000 per liter. "I urge the public not to panic buying or buying excessively because the government guarantees the supply and stock of cooking oil at a price of Rp. 14,000 per liter, which will definitely meet the needs of the community," said Lutfi.

In addition, Lutfi also emphasized that the government will impose sanctions on producers or cooking oil companies that sell their products at a price of more than Rp. 14,000 per liter, in which the cooking oil hoarder will be charged with Article 107 of Law Number 7 of 2014 concerning Trade with 5 years imprisonment or a fine of IDR 50 billion or about 3.5 million dollars.
(Author: Rahel Narda Chaterine, Contributor Purbalingga Iqbal Fahmi | Editors: Diamanty Meiliana, Gloria Setyvani Putri)