Latest News: Page 105

Algeria witnesses surge in coffee export inquiries

11

Apr

Algeria witnesses surge in coffee export inquiries

That was conveyed by one of the entrepreneurs and an importer of Indonesian coffee from Algeria, Fouad Hamdani, so Secretary Three Pensosbud KBRI [...]

Algeria witnesses surge in coffee export inquiries. That was conveyed by one of the entrepreneurs and an importer of Indonesian coffee from Algeria, Fouad Hamdani, so Secretary Three Pensosbud KBRI Algerian, Darmia Dimu to Antara London, Monday. According to Fouad Hamdani, from his observations in recent years, coffee from Indonesia is one of the coffees that are quite popular in society here (Algeria). The characteristic flavors of coffee from Indonesia are quite distinctive and unique, making it a favorite of the locals, said Fouad, who is also the director of PT Africafe, one of the largest Algerian coffee companies that exports its products to other countries in Africa and Europe. When met by the Indonesian Ambassador to Algeria, Safira Machrusah at his factory last weekend, Fouad highlighted that the type of Indonesian coffee that entered Algeria in bulk was Robusta. While the Arabica type is still not very abundant. In total, the company imports coffee from Indonesia reaching 6,000 tons per year. His party is planning to increase the volume of imported coffee from Indonesia in the next few moments, considering the trend of the Algerian market demand for Indonesian Robusta coffee which tends to increase. Seeing the increasing trend in demand for Indonesian coffee, we will try to increase the volume of our coffee imports from Indonesia. But I can't yet be sure how big the increase will be because for more details, we will still conduct a market survey first. Nevertheless, his party revealed a number of constraints faced when importing coffee from Indonesia. Up until now, the importation process still has to go through third parties, namely traders from European countries such as Belgium and France. This is due to the fact that until now goods entering and leaving Indonesia to Algeria are subject to fairly high customs duties, due to the failure of the Second Joint Commission Meeting (SKB) between Indonesia and Algeria. For that reason, Fouad hopes that the Indonesian Ambassador can work towards increasing the level of trade cooperation between the two countries, especially in coffee commodities. He also hopes to be able to transact directly with coffee farmers from Indonesia, without going through third party intermediaries. In response to this, the Ambassador suggests that Algerian coffee entrepreneurs open a trade representative office in Indonesia. It is hoped that with the opening of a trade representative office in Indonesia, Algerian coffee importers can transact directly with producers from Indonesia, so that prices obtained can be more competitive.  The Ambassador continues to strive to hold the Second Joint Commission Meeting (SKB) between the two countries, especially to remove barriers which so far have been quite significant stumbling blocks for trade between the two countries. Algeria is one of the largest consumers of coffee in the Middle East and Africa. The trend of growing consumption of coffee in Algeria has experienced an increase in volume from three percent in 2012 to six percent during 2014. On average, Algerians consume about 13 grams of coffee per day, or as much as four kilograms per year. 
Editor: Ruslan Burhani
http://www.antaranews.com/berita/554599/permintaan-ekspor-kopi-ke-aljazair-meningkat

CPO PRICE ON APRIL 6: At the beginning of trading, down 1.23%

06

Apr

CPO PRICE ON APRIL 6: At the beginning of trading, down 1.23%

June 2016 CPO futures, the most-active contract on Bursa Malaysia, opened 1.23% lower at MYR2,722 a ton. Meanwhile, the ringgit was seen [...]

World oil prices gain on a weak US dollar

01

Apr

World oil prices gain on a weak US dollar

The US benchmark West Texas Intermediate for May delivery rose two cents to finish at $38.34 a barrel on the New York Mercantile Exchange. Brent [...]

World oil prices gain on a weak US dollar. The US benchmark West Texas Intermediate for May delivery rose two cents to finish at $38.34 a barrel on the New York Mercantile Exchange.  Brent North Sea crude for May delivery, the global benchmark, advanced 34 cents to settle at $39.60 a barrel in London deals, compared with Wednesday's close. Prices seesawed into negative and positive territory before finishing slightly higher. The price increase `is largely a function of the weaker dollar. The dollar is down sharply today and was at one point at a five-month low, so that's helping crude find a bid, rally into the green,` said Bob Yawger of Mizuho Securities USA. The dollar index, which measures the greenback against six other major currencies, fell 0.35 percent to 94.525 in late Thursday trade. A weaker greenback tends to make dollar-priced commodities more attractive to buyers using stronger currencies. The dollar has declined since Yellen offered a cautious tone Tuesday on hiking US interest rates in light of a slowing global economy. Still, analysts said the market remained focused on the global crude oversupply, which is keeping a lid on prices. The US reported Wednesday that its commercial crude oil inventories climbed last week to another record high, underscoring the supply glut. Yawger pointed to reports that OPEC increased production in March, even as the 13-nation cartel plans to meet with non-OPEC producers next month to discuss a potential output freeze aimed at stabilizing the market. Oil prices have fallen by more than 60 percent since mid-2014. `The rally is in the face of the April 17th meeting, so that's a bearish development and is contributing to the downside,` he said. The Organization of the Petroleum Exporting Countries and non-OPEC members will meet on April 17 in Doha to discuss the production freeze. Traders are hoping that a deal to cap output will help support crude prices. Tim Evans at Citi Futures noted that preliminary estimates of OPEC's March output show a net increase of 100,000 barrels per day. AFP and Xinhua reported. (A026)
Editor: Tasrief Tarmizi

Rubber Prices March 31: Rubber Slides in Line With Crude

31

Mar

Rubber Prices March 31: Rubber Slides in Line With Crude

The commodity decreased by 0.68% or 1.20 points to the level of 176.30 yen per kilogram (kg) or Rp20,860.60 per kg at 11:14 Jakarta time. Previously, [...]

Rubber Prices March 31: Rubber Slides in Line With Crude. The commodity decreased by 0.68% or 1.20 points to the level of 176.30 yen per kilogram (kg) or Rp20,860.60 per kg at 11:14 Jakarta time. Previously, rubber also opened weaker by 0.06% at the level of 177.40 yen per kg.
Trader Yutaka Shoji in Tokyo Megumi Saito said the decline in oil market was the main factor that led rubber to decrease.
Recorded this month, futures increased by 13.5% to become the highest since December 2012 and made rubber enter the bullish market as the top exporters are reducing shipments.
West Texas Intermediate (WTI) oil for May contract plunged by 1.12% to US$37.89 per barrel, and Brent for May contract also declined by 0.76% to US$38.96 per barrel at 10:38 Jakarta time.
Thailand is still the largest producer and exporter, while China is the largest consumer.
Rubber Price Movement September 2016 Contract in TOCOM

Date

Price (Yen/Kg)

Change

March 31, 2016(at 11:14 Jakarta time)
176.30
-0.68%

March 30, 2016

177.50

+0.34%

March 29, 2016

176.90

-1.99%

March 28, 2016

180.50

+2.97%

Source: Bloomberg

Editor : Martin Sihombing

http://market.bisnis.com/read/20160331/94/533114/harga-karet-31-maret-karet-anjlok-terseret-minyak

EIDO: Release of Economic Package XI, Strengthening of Index Surpasses Dow Jones

31

Mar

EIDO: Release of Economic Package XI, Strengthening of Index Surpasses Dow Jones

EIDO index skyrocketed 1.32% to 23.00 at the closing of Tuesday’s trading (29/3/2016). EIDO index was stronger than the market indexes in the US. [...]

CPO PRICES: Low Production, Increasing Prices

30

Mar

CPO PRICES: Low Production, Increasing Prices

CPO futures for June 2016 delivery closed 0.62% higher today, or 17.00 points, at MYR2,779 or IDR9.16 million per ton. This rally on the third day, [...]

Latest News