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CPO PRICES ON 21 MARCH: Reaching Rp8.7 Million/Tonne, a Two-Year Record

22

Mar

CPO PRICES ON 21 MARCH: Reaching Rp8.7 Million/Tonne, a Two-Year Record

June 2016 CPO futures, the most actively traded contract on Bursa Malaysia, opened 0.22% lower at 2,673 ringgit per ton. The commodity then [...]

CPO PRICES ON 21 MARCH: Reaching Rp8.7 Million/Tonne, a Two-Year Record. June 2016 CPO futures, the most actively traded contract on Bursa Malaysia, opened 0.22% lower at 2,673 ringgit per ton.
The commodity then immediately turned higher by 0.41% to 2,690 ringgit or Rp 8.69 million per ton at 10:14 Indonesia Western Time. CPO has continued to strengthen after rising 0.94% last weekend to 2,679 ringgits, the highest price for the most active contract since April 2014.
The rally in CPO throughout last week was triggered by higher crude oil prices. Higher oil prices can support the Indonesian biodiesel program and boost CPO consumption at home.
WTI crude oil prices were down 1.12% to US$ 39 per barrel at 10:18 Indonesia Western Time, correcting after climbing above US$ 40 per barrel last Thursday. The oil price has risen almost 40% since reaching a 12-year low in mid-February.
The movement of the ringgit on the forex market has provided an additional boost to the movement of CPO prices. The ringgit had dropped 0.5% to 4.0738 per US dollar at 10.35 WIB on the spot market after three consecutive days of appreciation.

Price movement of June 2016 CPO contracts

Date

Level

Change

21/3/2016(10.14 WIB)

2.690

+0.41%

18/3/2016

2.679

+0.94%

17/3/2016

2.654

+1.65%

16/3/2016

2.611

+0.04%

15/3/2016

2.610

+0.81%

Source: Bloomberghttp://market.bisnis.com/read/20160321/94/530047/harga-cpo-21-maret-dekati-rp87-jutaton-tertinggi-2-tahun

22

Mar

US dollar gains on hawkish Fed remarks

Atlanta Federal Reserve President Dennis Lockhart said Monday that "there is enough positive momentum in the economic data to justify another move at [...]

US dollar gains on hawkish Fed remarks. Atlanta Federal Reserve President Dennis Lockhart said Monday that `there is enough positive momentum in the economic data to justify another move at one of the upcoming meetings, possibly as early as the gathering scheduled for April.`His words were echoed by San Francisco Federal Reserve President John Williams. `All else equal, assuming that things stay pretty much on track and the data flow continues to come in as expected and forecast, then certainly April or June would be potential timing for a rate increase,` Williams said Monday.The greenback jumped against major currencies after the hawkish comments. The dollar index, which measures the greenback against six major currencies, was up 0.24 percent at 95.310 in late trading.On the U.S. economic front, total existing-home sales decreased 7.1 percent to a seasonally adjusted annual rate of 5.08 million units in February from 5.47 million in January, the National Association of Realtors reported Monday.In late New York trading, the euro fell to 1.1248 U.S. dollars from 1.1270 U.S. dollars in the previous session, and the British pound decreased to 1.4396 U.S. dollars from 1.4480 U.S. dollars. The Australian dollar dropped to 0.7595 U.S. dollar from 0.7602 U.S. dollar.The U.S. dollar bought 111.86 Japanese yen, higher than 111.57 yen of the previous session. The U.S. dollar rose to 0.9697 Swiss franc from 0.9692 Swiss franc, and edged up to 1.3067 Canadian dollars from 1.3020 Canadian dollars, Xinhua reported.    (A026)
Editor: Ruslan Burhani
http://www.antaranews.com/berita/551241/dolar-as-menguat-didorong-pernyataan-pejabat-fed?utm_source=topnews&utm_medium=home&utm_campaign=news

HIPMI Jaya: If Companies Want to Develop, They Must Go Public

21

Mar

HIPMI Jaya: If Companies Want to Develop, They Must Go Public

The Chairman of Hipmi (Young Indonesian Entrepreneurs Association) Jaya’s Economy, Finance -and Banking Division Tri Antoro Muliawan stated that [...]

HIPMI Jaya: If Companies Want to Develop, They Must Go Public. The Chairman of Hipmi (Young Indonesian Entrepreneurs Association) Jaya’s Economy, Finance  -and Banking Division Tri Antoro Muliawan stated that there must be transparency in running  business to escalate progress. Currently, there are many business owners who are afraid of going IPO, because doing so requires transparency.
`If you wish to enhance progress, you shouldn’t be closed-minded,` Tri said Monday (21/3/2016).
In order to encourage companies to go IPO, Tri said that there is an obstacle faced, namely the fact that the companies are family businesses or have been handed down from one generation to another.
`Thus, there are people who wish to go IPO and those who do not. Family businesses will require family approval. However, if you choose the IPO option, progress will be faster. However, if you choose to develop it alone, progress might not be as fast as if you went IPO,` Tri said.
Tri did not deny that the majority of HIPMI Jaya’s members run family businesses. There are also business owners in the Micro-Small-and-Medium Enterprises (SMME) sector whose capital is still relatively small.

Writer: Seno Tri Sulistiyono
Editor: Sanusi
http://www.tribunnews.com/bisnis/2016/03/21/hipmi-jaya-kalau-perusahaan-mau-berkembang-harus-ipo

ICE Sugar Slightly Lower at End of Week, Still Up Almost 6 Percent for Week

21

Mar

ICE Sugar Slightly Lower at End of Week, Still Up Almost 6 Percent for Week

Raw-sugar futures for May delivery rose as much as 16 cents a pound. Prices across the broader commodities complex were lifted Friday by a more [...]

ICE Cocoa Ends Week Marginally Higher, Posts Nearly 2% Weekly Gain

21

Mar

ICE Cocoa Ends Week Marginally Higher, Posts Nearly 2% Weekly Gain

Cocoa futures rose as market concerns over a hot and dry start to the season reducing the size of West Africa’s mid-crop See: [...]

Tocom Rubber Futures Close Higher on Weekend, Up 6% on Week

21

Mar

Tocom Rubber Futures Close Higher on Weekend, Up 6% on Week

The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery finished 3.3 yen or 1.9% higher at 178.9 yen (US$1.61) per kg, after [...]

Tocom Rubber Futures Close Higher on Weekend, Up 6% on Week. The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery finished 3.3 yen or 1.9% higher at 178.9 yen (US$1.61) per kg, after retreating from a high of 181.5 yen, the highest since March 7.
U.S. oil futures touched new highs for 2016 on Friday and were set to post gains for a fifth straight week on growing optimism that major producers would strike a deal to freeze output, while a more benign interest rate environment also supported prices.
See: Tocom Rubber Prices Strengthened by Rising Crude Oil
The dollar held near a 17-month low of 110.67 yen struck overnight as the Fed’s less hawkish outlook for U.S. interest rates weighed on the U.S. currency.
The Nikkei share average fell for a fourth day on Friday, after the dollar plunged to a near 17-month low overnight, pressuring exporters and dented overall sentiment.
Singapore rubber futures for August delivery were up 0.4 percent at 133.70 U.S. cents a kg on Monday. 
Vibiz Research Center analyst predicts that Tocom rubber price movement in subsequent trading still has the potential to weaken with the potential decline in crude oil prices. Also need to be observed is the potential strengthening of the Yen that could weaken Tocom rubber prices.
For today's trading session price is expected to meet Support at position 174.00 yen. Subsequent Resistance is at 169.00 yen. In the meantime, if the price rebounds will meet Resistance at position 184.00 yen and 189.00 yen.  
Editor: Asido Situmorang
http://vibiznews.com/2016/03/21/tocom-rubber-prices-end-the-week-higher-on-a-weekly-basis-recording-a-6-percent-gain/

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