Jakarta, July 1 -- The Indonesian government will keep the retail price ceiling for subsidized cooking oil Minyakita at Rp15,700 (about US$0.88) per liter despite rising global crude palm oil prices, Trade Minister Budi Santoso said.

The decision comes as higher crude palm oil prices increase production costs, but the government aims to protect consumers' purchasing power.

"The price has not increased. Our recent meeting considered several key factors before reaching this decision," Budi said on Tuesday.

He said any change to Minyakita's price ceiling requires broad coordination across the supply chain, including palm oil farmers, producers, distributors and consumers.

Government Communications Agency (Bakom) Head Muhammad Qodari said...