JAKARTA: Indonesia will remove retail price caps for packaged cooking oil and will subsidise bulk sales to try to ensure supply at retail markets after previous price controls resulted in a scarcity, senior officials said on Tuesday.
Global prices of crude palm oil, which Indonesia uses for cooking oil, have surged to historic highs this year amid rising demand and weak output from top producers Indonesia and Malaysia.
Already a subscriber? Log in.
Subscribe now and receive FREE sooka plan for 1 month.
T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!