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News Forum - Amidst shortage, cooking oil ‘mafias’ form in Indonesia

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As the global price on crude palm oil surges, Indonesia faces a shortage of cooking oil. The Russia-Ukraine crisis has impacted the supply of vegetable oil in Indonesia, making palm oil more expensive. In November last year, the global CPO price was about US$1,300 per tonne. Now, it’s US$1,600 per tonne. Indonesian authorities tried to enforce one price, 14,000 rupiah per litre, for cooking oil across the country. But retailers continue selling oil above that price. Now, cooking oil ‘mafias’ have formed in the country. After police raided warehouses, they found at least three to be hoarding cooking oil in […]

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