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World Bank raises 2017 oil price forecast

21

Oct

World Bank raises 2017 oil price forecast

In its latest quarterly “Commodity Markets Outlook,” the Washington-based lender forecast that in 2017, the price of crude oil will average US$55 [...]

World Bank raises 2017 oil price forecast. In its latest quarterly “Commodity Markets Outlook,” the Washington-based lender forecast that in 2017, the price of crude oil will average US$55 a barrel, raising its July projection of $53. “We expect a solid increase in energy prices next year, led by oil,” said John Baffes, lead author of the report. However, he added, the forecast is subject to “significant uncertainty,” as markets await details and implementation of the OPEC agreement.The report said OPECs ability to influence the oil price is likely to be tested by expanding oil supply from non-OPEC sources, including the US shale industry.OPEC announced in late September its intention to cut output to 32.5 million barrels per day (bpd) from the current level of 33.24 million bpd, but the details will be discussed when members meet again in November in Vienna.Overall, energy prices, including oil, natural gas and coal, are projected to jump almost 25 percent next year, according to the report; metals and mineral prices are forecast to rise 4.1 percent next year while agricultural commodity prices are likely to expand by a modest 1.4 percent in 2017.“Low commodity prices have hit commodity exporters in developing and emerging market economies particularly hard, but now appear to be bottoming out,” said Ayhan Kose, director of the World Banks Development Prospects Group.     (A026/A011)
Editor: Unggul Tri Ratomohttp://www.antaranews.com/berita/591435/bank-dunia-naikkan-proyeksi-harga-minyak-2017

Officially Opened, the Largest Logistics Exhibition Aims to Bring a New Industry Perspective

19

Oct

Officially Opened, the Largest Logistics Exhibition Aims to Bring a New Industry Perspective

James Boey, General Manager Reed Panorama Exhibitions (RPE), expects the exhibition to create a new forum for regulators, logistics practitioners and [...]

Officially Opened, the Largest Logistics Exhibition Aims to Bring a New Industry Perspective. James Boey, General Manager Reed Panorama Exhibitions (RPE), expects the exhibition to create a new forum for regulators, logistics practitioners and supply chain industry, and bring in fresh perspectives for the industry.
`This event will be a platform that offers an integrated exhibition and a series of meetings and discussions to address current issues, providing solutions, and sharing ideas, as well as networking sessions,` James Boey said in a press release on Wednesday (Oct 19, 2016).
Heru Pambudi, Director General of Customs and Excise at the Finance Ministry, said the government would boost the growth of bonded logistics centers (PLB).
`The development of Bonded Logistics Centers is very important to reduce dwell time for a more efficient logistics cost and can make Indonesia a logistics hub in the Asia Pacific region,` Heru explained.
Indonesia has built 14 PLBs, Heru said, serving various sectors, such as oil and gas, mining, maintenance, repair and overhaul (MRO), automotive and pharmaceuticals.
Around 25 PLBs will be built soon, in collaboration with the associations and major players in the industry.
Rosan P. Roeslani, Chairman of the Indonesian Chamber of Commerce and Industry (KADIN), said that improved logistics could support and strengthen business relations.
`This exhibition and conference will be useful in providing the latest updates on developments and business opportunities in Indonesia, including the transportation, logistics and supply chain sectors,` Rosan said.
He said the JILSE and ITSCL exhibitions aimed to build networks for companies to make acquaintances and explore business opportunities across countries.
The event was opened by Coordinating Minister for the Economy Darmin Nasution, Finance Minister Sri Mulyani Indrawati and Trade Minister Enggartiasto Lukita.

Bengkulu's Coffee Among the Best Coffee in Indonesia

19

Oct

Bengkulu's Coffee Among the Best Coffee in Indonesia

“Kepahiang, Bengkulu Robusta coffee has been selected as one of the top 15 to be chosen as the top three best coffees in Indonesia,” said [...]

Bengkulu's Coffee Among the Best Coffee in Indonesia. “Kepahiang, Bengkulu Robusta coffee has been selected as one of the top 15 to be chosen as the top three best coffees in Indonesia,” said coffee activist from Bengkulu's Konakito Heri Supandi, Tuesday (10/18/2016).
AEKI AICE COFFE is a competition held by the Indonesian coffee exporters association. The AEKI AICE COFFEE Contest 2016 was judged by the best judges from 12 countries and the Bengkulu Robusta coffee with the trademark, “Ngupei Konakito” successfully convinced the 12 judges of the delicious and distinctive flavor of coffee from Bengkulu.
In addition, Bengkulu Robusta coffee also competed with Robusta coffee from Java and several regions in Sumatra, such as South Sumatra, Lampung, and Aceh to reach the top three positions.
The results of the judging and the contest winner will be announced on October 21-23, 2016, at the National Coffee Day in Takengon, Aceh Province. Participating in this prestigious competition is one of the ways to introduce Indonesia that Bengkulu coffee is also the best coffee that is worthy of being known by the international market.
“This is an effort to open up opportunities for Bengkulu coffee exports to become even greater and become the pride of the region,” said Heri.
Konakito coffee is known to have several variants of flavor that coffee lovers must try, such as Robusta Original, Traditional Robusta, Super Robusta, Semang Robusta, and Arabica.
Responding to this achievement, the Head of the Bengkulu Province's Cooperative UKM Industry and Trade Service (Diskop UKM Perindag) Ismed Lakoni stated that the government is ready to support coffee activists in introducing Bengkulu coffee to a global level.
“The provincial government is fully prepared to support the work of the young Bengkulu coffee activists who plan to hold a contest with the Indonesian coffee exporters association. (AEKI AICE COFFEE Contest 2016). We hope that next year, Bengkulu will be chosen as the host of the Nusantara Coffee Festival and the Commemoration of World Coffee Day,” concluded Ismed Lakoni.

–– ADVERTISEMENT ––

Writer
: Bengkulu contributor, Firmansyah

Editor
: Bambang Priyo Jatmik

http://bisniskeuangan.kompas.com/read/2016/10/19/061337526/kopi.asal.bengkulu.masuk.jajaran.kopi.terbaik.nasional

India's CPO Imports to Increase, Surge in Price will Continue

17

Oct

India's CPO Imports to Increase, Surge in Price will Continue

At the close of trading on the Bursa Malaysia on Friday (14/10), the CPO price for the December 2016 most active contract rose by 47 points to reach [...]

India's CPO Imports to Increase, Surge in Price will Continue. At the close of trading on the Bursa Malaysia on Friday (14/10), the CPO price for the December 2016 most active contract rose by 47 points to reach 2,665 ringgit (US$632.64) per ton.
A Bloomberg survey revealed that CPO imports by the Hindustan nation are expected to increase by 2.1% to 800,000 tons in September. This number represents the first rise since April 2016.
Total imports of vegetable oil last month were predicted to reach 1.36 million tons, a 12% increase (month-on-month). Official import data from the Solvent Extractors’ Association (SEA) of India will be released in mid-October.
Nagaraj Meda, managing director of TransGraph Consulting, said that rebounding purchases of CPO by India, the world’s largest consumer, is helping prices to stay high even though they are being held back by recovery in production. The impact of dry weather caused by the El Nino previously disrupted the planting process in Indonesia and Malaysia in the early part of the year.
Demand from India normally increases during the Hindu festival from September to November, because people eat more fried food and sweets. The festival reaches its peak with Diwali on 30 October 2016.
`At present, the supply of vegetable oil is low, so imports must be increased in order to meet domestic demand,` said Meda, as quoted by Bloomberg on Sunday (16/10/2016).
According to the SEA, cooking oil stocks on 1 September reached only 2.06 million tons, significantly down compared to 1 January which reached 2.51 million tons. India meets its cooking oil requirements through imports of around 70%.
India's CPO supply comes from Indonesia and Malaysia, while it obtains soybean oil from the US, Brazil and Argentina.

Editor : Saeno

http://market.bisnis.com/read/20161016/94/592958/impor-india-diprediksi-naik-harga-cpo-bakal-lanjutkan-kenaikan

CPO PRICE OCT 17: Palm Oil Jumps Over 4% as Diwali Festival Nears

17

Oct

CPO PRICE OCT 17: Palm Oil Jumps Over 4% as Diwali Festival Nears

The CPO futures contract for December 2016, the most actively traded contract on Bursa Malaysia, was seen jumping 4.14% or 110 points to the level of [...]

CPO PRICE OCT 17: Palm Oil Jumps Over 4% as Diwali Festival Nears. The CPO futures contract for December 2016, the most actively traded contract on Bursa Malaysia, was seen jumping 4.14% or 110 points to the level of 2,770 ringgit per ton at 10.24 WIB, the highest level throughout the contract period.The price of palm oil previously opened up 3.27% or 87 points to the position of 2,747.
Meanwhile, the price of palm oil during the Friday (14/10/2016) trading closed with a sharp increase of 1.60% or 42 points to 2,660.
As reported by Bisnis.com, the import of palm oil or CPO from India is expected to increase for the first time in the past five months due to decreasing stock and increasing demand leading up to the festival. This sentiment provides positive momentum for the price of CPO.
The Bloomberg survey indicates that CPO import from Hindustan is expected to increase by 2.1% to 800,000 tons in September. This figure is the first increase since April 2016.
Nagaraj Meda, Managing Director of TransGraph Consulting, said that the rebound in CPO purchases from India as the world's largest consumer helps the price remain high despite being blocked by the recovery in production. The dry weather impact from El Nino previously disrupted the planting process in Indonesia and Malaysia in the beginning of the year.
Demand from India usually increases during the Hindu festival from September through November, as people consume more fried foods and sweets. The highlight of the celebration occurs during the Diwali Festival which falls on October 30, 2016.
Thomas Mielke, Executive Director of Oil World, said that in addition to India, absorption of CPO demand will also come from China. The number of palm oil stock in The Panda Country is currently considered low in the range of 350,000--400,000 tons.
`China must purchase CPO because its stock is quite low,` he said.
On the other hand, the exchange rate of the ringgit this morning was seen decreasing by 0.58% to 4.2192 per US dollar at 10.39 WIB, after opening down 0.32% in the position of 4.2080.
The Price Movement of CPO for the December 2016 Contract

Date

Level

Change

17/10/2016(10.24 WIB)
2.770
+4,14%

14/10/2016

2.660

+1,60%

13/10/2016

2.618

-1,32%

12/10/2016

2.653

+1,61%

11/10/2016

2.611

+2,71%

Source: Bloomberg
Editor: Linda Teti Silitonga
http://market.bisnis.com/read/20161017/94/593102/harga-cpo-17-oktober-festival-diwali-mendekat-minyak-sawit-melonjak-di-atas-4-persen

Chamber backs bid to revitalize Indonesian exports

17

Oct

Chamber backs bid to revitalize Indonesian exports

"This is a good opportunity to be used as a turning point, because our export has been declining for a long time. We are grateful that TEI 2016 can [...]

Chamber backs bid to revitalize Indonesian exports. `This is a good opportunity to be used as a turning point, because our export has been declining for a long time. We are grateful that TEI 2016 can be a momentum,` Handito Joewono, Chairman of the Export Development Committee of the Indonesian Chamber of Commerce and Industry, told ANTARA News in Jakarta, Sunday. It is known that the transaction value of TEI 2016 until Sunday (16/10) morning reached 974.76 million US dollars or Rp12.7 trillion, an increase of 7.2 percent compared to TEI last year which amounted to 909 million US dollars. In fact, the transaction value is expected to continue to grow. Handito said the momentum must be maintained and defended by all parties, both entrepreneurs and the government. In this regard, the Indonesian Chamber of Commerce and Industry will implement five export development strategies contained in the 500 percent export development roadmap in the next 10 to 15 years. First is the addition of new exporters ranging from large, medium to small businesses. `Small entrepreneurs should not be forgotten. Many of them already have export potential, but have not yet exported,` said Handito. The second is the addition of diversification of export products, where Handito sees fisheries and marine products having great potential to be developed. Furthermore, the development of the export market, by adding a new market or doing deeper market penetration. `In terms of penetration, we deepen the export destination in one country, for example adding export markets in other regions in that country. E-commerce can be utilized in this regard,` said Handito. Then, he continued, to increase the average price of export products, by increasing the added value of export products by downstreaming production to the final product. Lastly, namely improving the export ecosystem, where all Indonesian entrepreneurs are encouraged to have an export mindset. `Thus, we expect Indonesia to become a major export country,` concluded Handito.
Editor: Monalisa
http://www.antaranews.com/berita/590526/kadin-dukung-kebangkitan-ekspor-indonesia

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