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OGYAKARTA: Hundreds of local people in the village of Candi Binangun in Sleman regency’s Pakem district, flocked to the pasar murah (low-priced market), jointly organized by the Indonesian Islamic University (UII) and PT Sinar Mas, to purchase palm oil sold at reduced prices on Sunday.

The discount market program was aimed at anticipating the food crisis and offsetting the spike in prices of basic food commodities, including cooking oil, that usually occurs in the lead-up to the Ramadhan fasting month, said G. Sulistiyanto, the managing director of Sinar Mas.

He said that his company would distribute 100,000 liters of discounted cooking oil to 20 areas across Java.

 “We sell palm oil at Rp 9,000 (less than US$1) per liter, much cheaper than the price at the store. We subsidize around 40 percent of [the price of] oil, therefore, it is cheaper,” Sulistiyanto added.

 Such program have been a welcome relief for residents in the face of rising stable food prices.

 “Previously, minyak curah [non-branded cooking oil] cost Rp 8,000 per liter and now it has reached Rp 8,800 per liter, while branded cooking oil is sold at Rp 13,000 per liter from the previous price of 12,000 per liter,” said Ratih, a resident of Harjobinangun village.