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CPO PRICE APRIL 13: Malaysia’s Stock Tumbles, Prices Rise Significantly

13

Apr

CPO PRICE APRIL 13: Malaysia’s Stock Tumbles, Prices Rise Significantly

The CPO futures contract for June 2016, the most active contracts on Bursa Malaysia, was seen soaring 1.06% to a level of 2,666 ringgit/ton at 09:51 [...]

CPO PRICE APRIL 13: Malaysia’s Stock Tumbles, Prices Rise Significantly. The CPO futures contract for June 2016, the most active contracts on Bursa Malaysia, was seen soaring 1.06% to a level of 2,666 ringgit/ton at 09:51 WIB, after opening at 2,667 ringgit/ton.
The Malaysian Palm Oil Board (MPOB) has stated that the reserves of palm oil from the world’s second largest producer have fallen 13.1% to 1.89 million metric tons in March 2016 compared to the previous month.
Production has increased 17% to 1.22 million tons, and exports have increased 23% to 1.33 million tons.
The CPO futures contract previously closed by weakening for six days in a row since its last strengthening to a level of 2,770 on 4 April.
Price Movement of the June 2016 CPO Contract

Date
Level
Change

13/4/2016 (09:51 WIB)
2,666
+1.06%

12/4/2016
2,638
-1.09%

11/4/2016
2,667
-0.49%

8/4/2016
2,680
-1.11%

7/4/2016
2,710
-0.44%

6/4/2016
2,722
-1.23%

5/4/2016
2,756
-0.51%

Source: Bloomberg
Editor: Bunga Citra Arum Nursyifani
http://market.bisnis.com/read/20160413/94/537432/harga-cpo-13-april-cadangan-malaysia-turun-harga-naik-signifikan

BPDP Palm Oil has the right to appoint a surveyor

12

Apr

BPDP Palm Oil has the right to appoint a surveyor

President Joko Widodo signed this presidential regulation on 15 March 2016 and it has been effective since its enactment date. One of the new [...]

BPDP Palm Oil has the right to appoint a surveyor. President Joko Widodo signed this presidential regulation on 15 March 2016 and it has been effective since its enactment date. One of the new provisions in this presidential regulation is a matter regarding the authority of the Oil Palm Plantation Fund Management Agency (BPDP) to appoint a surveyor to conduct verification or technical investigation for export levy payment from oil palm plantation businesses.  ALSO READ  BPDP Oil Palm disburses plant rejuvenation funds BPDP CPO allocates Rp 33 billion for forests   The surveyor's verification and technical investigation results are outlined in a surveyor report. `The Oil Palm BPDP appoints the surveyor after coordinating with the Ministry of Trade (Kemdag),` as stated in the presidential regulation as quoted from the Cabinet Secretariat (Setkab) website. In addition, the government has also changed the Oil Palm BPDP Executive Committee membership by including the Minister of State-Owned Enterprises (BUMN) and the Head of the National Development Planning Agency (Bappenas). Other members that have joined include the Minister of Agriculture, the Minister of Finance, the Minister of Industry, and the Minister of Trade. According to Nurlaila Nur Muhammad, the Director of Agriculture and Forestry Product Exports of the Ministry of Trade (Kemdag), a surveyor is very important in the levy funds from oil palm plantation businesses. This is because the levy amounts vary for each oil palm derivative product. Although the presidential regulation has only recently been issued, in reality verification of levy funds from oil palm plantation businesses using surveyors has been ongoing since 2015. `This policy is only a slight revision because the levy mechanism has not changed,` Nurlaila told KONTAN on Monday (11/4). Thus far, only one company has become the surveyor, PT Sucofindo (Persero) because it has been assessed as fulfilling the requirements that have been set. Nurlaila also promised that all surveyor payments will be covered by the Oil Palm BPDP so exporters will not need to spend additional costs in the oil palm export process.  Dadan Kusdiana, Director of Fund Distribution at the Oil Palm BPDP, explained that although from the very beginning of the oil palm plantation fund levy there has been verification conducted by a surveyor from Sucofindo, there are some differences after this policy was issued. The difference is that in previous regulations, the surveyor was part of the export process that was under the Ministry of Trade's authority. As a result, it is not surprising that the Ministry of Trade directly appointed Sucofindo, which is a state-owned company. Well, after this presidential regulation was issued, the surveyor's duties are more specific; they are to verify the amount of export levies. The Oil Palm BPDP also has the authority to appoint the surveyor, with coordination still done with the Ministry of Trade. Even so, Dadan said that it is very likely that the BPDP Oil Palm will continue its cooperation with Sucofindo. `We have been contractually bound for one budget year,` he explained. Although the payment will be covered directly by the Oil Palm BPDP, Dadan admitted that he does not know in detail the amount of the budget that has been provided to pay this surveyor. Sucofindo has not yet provided any information about this. Heru Riza, Sucofindo's Commercial Director I, did not respond to KONTAN's calls or messages. Reporter Adisti Dini Indreswari  Editor Dupla KS  http://industri.kontan.co.id/news/bpdp-sawit-berhak-tunjuk-surveyor

President Asked Not to Get Carried Away by Sugar Profiling Team Recommendations

12

Apr

President Asked Not to Get Carried Away by Sugar Profiling Team Recommendations

It is alleged this recommendation has a set-up agenda by seven samurai of white sugar importers who want to get a permit to import white [...]

President Asked Not to Get Carried Away by Sugar Profiling Team Recommendations. It is alleged this recommendation has a set-up agenda by seven samurai of white sugar importers who want to get a permit to import white granulated sugar, even though this keeps harming people and sugar cane farmers.
 Abdul Wachid's statement is thought to have a connection, comes out of nowhere, has no solution, and potentially will kill the national food and beverage industry which employs almost  18,9 million formal and informal workers.
Executive Director of Indonesia Development Monitoring Bin Firman Tresnadi expressed his disappointment with the attitude of Abdul Wachid, a Gerindra party member and a legislator from the electoral district of Central Java II, who shows lack of understanding of national sugar trade and who does not side with people running small-medium sized businesses in the food and beverage sector who need products from sugar refining industry considering the SMEs are a reflection of the grass root economy.
`President Jokowi must not be carried away by the recommendation of the House Research Committee on Sugar. We ask Gerindra to summon Abdul Wachid and bring him out of the House Research Committee on Sugar because this will lead to decrease in people's sympathy towards Gerindra,` he said.
Bin Firman explained recently there has been a silent operation by granulated white sugar importer mafia against the sugar refining industry in Indonesia.
The indication was discovered by setting up sugar cane farmers and granulated white sugar factories against the sugar refining industry.

Writer: Johnson Simanjuntak
http://www.tribunnews.com/bisnis/2016/04/11/presiden-diminta-tidak-terbuai-rekomendasi-panja-gula

World oil prices rise ahead of Qatar gathering

12

Apr

World oil prices rise ahead of Qatar gathering

The US benchmark West Texas Intermediate (WTI) for May delivery rose 64 cents to $40.36 a barrel on the New York Mercantile Exchange. Brent North Sea [...]

World oil prices rise ahead of Qatar gathering. The US benchmark West Texas Intermediate (WTI) for May delivery rose 64 cents to $40.36 a barrel on the New York Mercantile Exchange. Brent North Sea crude for June settlement, the European benchmark, increased 89 cents to settle at $42.83 a barrel in London deals.The gains added to a more than six percent surge on Friday, after data showed a surprise drop in US stockpiles and weaker output.Bart Melek of TD Securities said focus remains on a meeting of key producers in Doha on April 17 that could yield an agreement to limit output in order to support crude prices.But Citi Futures analyst Tim Evans said reports of high production in Russia and Iraq were worrying signs for the oversupplied market. So too was news that Kuwait planned to boost its output further by the end of 2016. “These producers may simply be getting their last increase to the market ahead of a freeze, but it does not seem in the spirit of a production restraint and casts doubt on the likelihood that they will comply with any deal that is agreed,” Evans said.OPEC governor for Kuwait, Nawal al-Fezaia, said Tuesday that major oil producers could reach a deal on output freeze even if Iran does not join the move. However, investment bank Goldman Sachs warned Monday that the meeting later this week is unlikely to tighten a massively oversupplied market, according to AFP. (T.A026)
Editor: Ruslan Burhanihttp://www.antaranews.com/berita/554822/harga-minyak-dunia-naik-jelang-pertemuan-qatar

CPO PRICES April 11: Malaysia's production increases, CPO reverses to weakening

12

Apr

CPO PRICES April 11: Malaysia's production increases, CPO reverses to weakening

The June 2016 CPO futures contract, the most active contract on Bursa Malaysia, opened down by 0.26% to MYR2,673 per ton this morning. The commodity [...]

CPO PRICES April 11: Malaysia's production increases, CPO reverses to weakening. The June 2016 CPO futures contract, the most active contract on Bursa Malaysia, opened down by 0.26% to MYR2,673 per ton this morning. The commodity price had earlier improved by 0.63% to MYR2,697 per ton at 10:02 a.m. WIB.
However, at 2:02 p.m. WIB, the CPO price fell again by 0.67% to MYR2,662 per ton.
The Malaysian Palm Oil Board (MPOB) announced that the second-largest palm oil producer's palm oil stock fell 13.1% to 1.89 million metric tons in March 2016 as compared to the previous month. Production increased by 17% to 1.22 million tons, and exports by 23% to 1.33 million tons.
The CPO futures contract had previously closed with a loss for four consecutive days since the latest gain to 2,770 on 4 April.
Price Movement of the June 2016 CPO Contract

Date

Level

Change

11/4/2016(2:02 p.m. WIB)

2.622

-0.67%

8/4/2016

2.680

-1.11%

7/4/2016

2.710

-0.44%

6/4/2016

2.722

-1.23%

5/4/2016

2.756

-0.51%

Source: Bloomberg

Indonesian Coffee Finds Favour Among Britons

11

Apr

Indonesian Coffee Finds Favour Among Britons

Since the first event in 2011, the number of participants and visitors to the London Coffee Festival (LCF) has continued to increase, with an [...]

Indonesian Coffee Finds Favour Among Britons. Since the first event in 2011, the number of participants and visitors to the London Coffee Festival (LCF) has continued to increase, with an estimated 35,000 people visiting the festival or nearly 9,000 people/day, the Economic Functionary of the Indonesian Embassy in London, Hastin Dumadi, told Antara London, Sunday. According to Hastin Dumadi, there were 200 small to large companies participating in this festival, such as Starbucks, Illy, Lavazza, as well as small and medium-sized companies such as Altwien, Novell who sell robusta coffee from Sumatra, and Coffee Monger with arabica coffee originating from East Java. In this year's festival, several other `roasters` companies, like Cafe Pod that sells coffee from the Lake Laut Tawar area, and Extract Coffee Roasters that imports coffee from various regions in Indonesia, Peros that buys coffee from the Sumatra region, and Matthew Algie that buys coffee from Sulawesi. In addition to coffee exhibitions for robusta and arabica types, several companies also sell coffee drink processing machines as well as glasses and aprons for coffee baristas. From the observations of the Economic Functionary of the Indonesian Embassy in London, Hastin Dumadi, on average, coffee roasting companies that sell Indonesian coffee at the exhibition were in the form of roasted beans, but some were also in the form of capsules to be put into the coffee processing machine as sold by CafePod. Lara Hunter-Rodwell from Peros, which is part of the large coffee company Bewleys, said that the demand from buyers for coffee from Indonesia, such as from Sumatra, was also quite good and had continued to increase.Ashley Quinn from Extract Coffee Roasters said the same thing as Lara, that the demand for coffee, especially arabica coffee from Indonesia, continues to increase, but his company sometimes has difficulties in obtaining a stable supply of coffee from Indonesia.The same was also expressed by the Novell company, which has not sold coffee from Indonesia since the beginning of this year, because they have not received any supplies.Meanwhile, Brooke and Tarek El Khazindar, owners of Coffee Mongers, who primarily sell arabica coffee under the name `Mercator - Java`, said that with the increasing interest in drinking coffee by the British public, their company wanted to increase imports of coffee from Indonesia, which is considered to have a distinctive flavor.In addition to coffee from Indonesia, several other coffees that were widely sold at the exhibition were coffees originating from Latin American countries, including Brazil, Guatemala, Nicaragua, and from Africa, including Kenya, Ethiopia, and Tanzania.Coffee production in Indonesia does indeed fluctuate quite a bit. In 2014, Indonesia was the 4th largest coffee producing country in the world after Brazil, Vietnam, and Colombia.On average, 31 percent of Indonesia's total coffee exports go to Europe. With the increasing demand for coffee worldwide, including from the UK, where there is a large population of British people compared to other European countries, Indonesian exporters still have many opportunities to export coffee to the UK, he said.Indonesian companies can send product samples of their coffee to various coffee importing companies in the UK, information about which is easy to obtain because each company has a page or website.Coffee exporters can also participate in this activity next year, which will be held in early April 2017.
Editor: Suryantohttp://www.antaranews.com/berita/554556/kopi-indonesia-digemari-warga-inggris

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