JAKARTA – The Indonesian Competition Commission (lit. Komisi Pengawas Persaingan Usaha/KPPU) is on the lookout for any food price surge with characteristics of an oligopolistic market while approaching Eid al-Fitr next week (2/3-5). If the price increases when the supply suffices according to food balance sheet, KPPU will then take a special action as a response.
Chandra Setiawan, Commissioner of KPPU, mentioned that the food price surge nearing Eid is still within the normal range, save for the cooking oil, which is currently under investigation. “There has not been any signals leading to potential violation of business competition, except the cooking oil,” he confirmed in the press release quoted Friday (29/4).
According to Setiawan, the food supply in several regions are still adequate, although there have been price surges across the nation nearing Eid. The price surges are detected in commodities such as beef, chili peppers, cooking oil, and flour. KPPU also found an attempt to fix the price surge for beef in certain quantities by business owners association in Yogyakarta and Lampung.
“KPPU will take a particular action should there be any extreme food price surge. However, the said action is not yet deemed necessary,” Setiawan confirmed. (LK/ZH)