Why should Indonesia focus on developing domestic businesses?
JAKARTA – Indonesia, through various related parties, is deemed necessary to focus on developing domestic businesses in order to process used cooking oil or used cooking oil because it has high economic value and is in line with the application of the concept of renewable energy.
How much does cooking oil cost in Indonesia?
Bulk cooking oil in Indonesia was offered in the range of 19,000 to 20,000 rupiah ($1.31 to $1.38) on Wednesday, the news outlet reported, citing a senior trade association official.
Does Indonesia have a problem getting cooking oil?
"As the world’s largest producer of palm oil, it is ironic that we actually have difficulty getting cooking oil," said Indonesian President Joko Widodo, according to an official transcript. "As president, I cannot allow that to happen," he added. Retail prices of cooking oil in Indonesia have gained over 40% so far this year, Reuters reported.
Why are cooking oil prices rising in Indonesia?
Retail prices of cooking oil have soared in Indonesia as palm-oil producers boosted exports on the back of rising global vegetable oil prices, according to Channel NewsAsia. This in turn caused a supply crunch at home.