Indonesian Palm Oil News – Cooking oil has become a basic need for Indonesian people. However, the price of cooking oil continues to soar. It was recorded that during December 2021 palm cooking oil continued to rise to reach Rp. 20,000/liter. This is of course very burdensome and many people complain about it. The increase was due to the increase in world Crude Palm Oil (CPO) prices eventhough Indonesia is listed as the largest producer of palm oil (CPO) in the world. Even, oil palm plantations in Indonesia can reach hundreds of thousands of hectares in Sumatra, Kalimantan, and even Papua. Here’s the king of cooking oil in Indonesia.

Anthony Salim
The owner of Indofood also issued packaged cooking oil. Through Indofood Agri Resources Ltd. Anthony Salim produces cooking oil such as Bimoli, Delima, and Happy.

Widjaya Family
Besides being at the second ranking of the 50 richest people in Indonesia in 2021 by Forbes, the Widjaya family through the Sinar Mas Group is also the largest cooking oil producer in Indonesia. The most famous cooking oil is under Filma brand.

Bachtiar Karim
Bachtiar Karim is the owner of the Musim Mas Group who also owns the largest palm oil company in Indonesia. From this company, he has a total wealth of USD 3.5 billion or equivalent to Rp. 50 trillion. Its cooking oil products include Sanco, Voila and Amago.

Martua Sitorus
Through the company he founded, Wilmar, Maratua Sitorus has also produced packaged cooking oil under the Fortune and Sania brands. The sale of this cooking oil in the first quarter of 2021 could contribute IDR 49.06 billion of his total wealth of IDR 40.75 trillion.

Sukanto Tanoto
Sukanto Tanoto is the founder of Royal Golden Eagle International (RGEI). The company, which has gone international, has businesses in various industries including palm oil. Through Asian Agri and Apical, it produces cooking oil under the Camar brand. Tanoto is also the richest businessman in Indonesia with a total wealth of USD2.3 billion (IDR32.89 trillion).

Read more in IPO News Magazine November 2023 Edition

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