Inp.polri.go.id - Jakarta. Jakarta (ANTARA) - Deputy Chief of the Presidential Staff Office (KSP) for Economic Affairs, Edy Priyono, said on Saturday (28/9/2024) that the 2024 Domestic Market Obligation (DMO) for cooking oil has decreased due to lower export performance.

"The drop in bulk cooking oil and Minyakita supplies is due to the reduced DMO, which was impacted by a decline in exports," he explained, referring to Minyakita, a government-subsidized cooking oil brand, which was introduced to stabilize local cooking oil prices. .

Edy revealed that palm oil derivative exports in July 2024 totaled 1.573 million tons, a significant drop from 2.747 million tons in 2023. Crude Palm Oil (CPO) and Palm Kernel Oil (PKO) production in June 2024 was 4.045 million tons, down from 4.421 million tons last year.

He added that the ongoing high prices of cooking oil might be rooted upstream, as the supply of bulk oil and Minyakita in 2024 is notably lower compared to the previous year.

The DMO requires palm oil producers to allocate a portion of their production for domestic needs to ensure a stable supply and price.

(mg/ab/pr/nm)