Under Sukanto Tanoto’s Leadership, Asian Agri Lowers Oil Prices for the Good of the Community

Sukanto Tanoto, a one man force of nature who built an empire for the ages in less than 50 years. Even more impressively, he has concurrently built a reputation for himself, for his firm commitment to the community. Having cut his business teeth since he was a teen, RGE has become a global player in the natural-resources manufacturing industry and, today, manages several companies including APRIL, Sateri, and Pacific Oil and Gas  – all of which he founded.

Sukanto Tanoto’s promise, commitment, and philosophy

Under Sukanto Tanoto’s Leadership, Asian Agri Lowers Oil Prices for the Good of the Community

RGE founder Sukanto Tanoto and his wife, Tinah Bingei Tanoto

His commitment towards the community has been translated into his 4Cs principle, which seeks to create good for the Community, Country, Climate, and Company. It is a philosophy that has guided all the actions of Sukanto Tanoto’s companies, which have resulted in a substantial amount of good for the community. Most recently, Asian Agri worked in partnership with Indonesia’s Ministry of Commerce to lower edible oil prices –in a bid to overcome the impending oil shortage.

Indonesia caught in the eye of a storm with oil shortage

With Ramadan around the corner, Indonesia is expecting to see its yearly spike in demand for cooking oil. As prices look set to hit a highest retail price (HET) of Rp11, 000 per litre however, even ordinary cooking oil is on course to becoming out of reach for the average Indonesian consumer. It is a substantial shortage which has become serious: the expected demand of 14 million litres of oil is not expected to be met, with distributors looking to provide only 6 million litres. Caught in a perfect storm, the government has reached out to Sukanto Tanoto -owned Asian Agri, together with 76 other oil producers, to strike a deal.

The result of the deal, of which the details remain unreleased, is set to make edible oil much more affordable than it currently is. More than that, the deal attests to the healthy and positive relationship between the government and businessmen like Sukanto Tanoto, who have worked together to improve the lives of the community.

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