Trade Minister Ensure Commit Area Maintains Price Stability ahead of the National Religion Day (HKBN)

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Bandung, May 24, 2017

On the sidelines of the Trade Coordination Forum opened by the Director General of Foreign Trade, Oke Nurwan, at Papandayan Hotel, Bandung, the Minister of Trade, Enggartiasto Lukista, re-assured and emphasized stabilization efforts in all provinces in Indonesia.

Since March 2017, Trade Minister Enggartiasto Lukita has been fully prepared to prevent scarcity and price hike of staple goods, especially ahead of Fasting, Idul Fitri and Idul Adha 2017.

The Minister of Trade also assigned the whole line of echelon I of the Ministry of Trade to guard the 2017 4% + 1% inflation target which is usually sourced from staple goods.

This was confirmed by Minister of Trade Enggartiasto Lukita interrupted on the sidelines of the Trade Coordination Forum held at Hotel Papandayan, Bandung, today, Wednesday (24/5).

"The steps that have been taken are coordination with related institutions (coordination meeting and direct monitoring), coordination with business actors (facilitation of supply of sugar, cooking oil, and meat according to the highest retail price), and Bulog assignment for price stabilization," said Minister Enggartiasto Lukista.

The Minister of Trade also revealed, "In the last month of monitoring of the Ministry of Trade, the price of staple goods has been stable even tended to decline, except for garlic which slightly rose almost in all provinces due to reduced supply to the market.

The results of field coordination and monitoring in BULOG warehouse, PPI, and distributors in the regions show that the stock of staple goods, especially rice, sugar, wheat flour, and cooking oil is sufficient to meet the needs of Fasting and Lebaran 2017. This is supported by Prognosis data from the Ministry of Agriculture.

In supporting the availability and stabilization of the prices of basic commodities, the government prohibits business actors to carry out hoard / speculation in accordance with the mandate of Perpres 71/2015 and will take firm action against the offending parties.

The Minister of Trade disclosed, "Distributors, subdistributors and agents who trade basic needs goods are also regulated through Permendag No 20 / M-DAG / PER / 3/2017 on Registration of Business Entities for Distribution of Basic Goods."

Minister of Trade shall confirm the sales of basic commodities in the field according to HET ahead of Fasting, Idul Fitri, and Idul Adha 2017. The Ministry of Trade has set a HET for sugar commodities of Rp 12,500 / kg, simple packaging cooking oil Rp 11,000 / liter, and frozen meat with a maximum price of Rp 80,000 / Kg.

To ensure the implementation of the policy, the Ministry of Trade has facilitated the signing of the MoU between the Indonesian Retail Entrepreneurs Association (APRINDO) with sugar distributors, the Indonesian Vegetable Oil Industry Association (GIMNI), the Indonesian Petroleum Industry Association (AIMMI) and the Indonesian Association of Meat Distributors (ADDI) April 2017. This provision shall be applied simultaneously in Indonesia since April 10, 2017.

Earlier in December 2016, Kemendag commissioned Bulog to expand the distribution of frozen meat outside Jabodetabek, except for areas that prohibit the circulation of imported meat.



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