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Indonesia is ready to print its first Master of National Logistics

13

Jul

Indonesia is ready to print its first Master of National Logistics

"This is the initiative from entrepreneurs based on experience, etc. It turned out there is an important gap in education at master's or S2 [...]

Indonesia is ready to print its first Master of National Logistics. "This is the initiative from entrepreneurs based on experience, etc. It turned out there is an important gap in education at master's or S2 level in logistics. We totally support it," said Secretary General of the Ministry of Industry Syarif Hidayat in Jakarta, Tuesday.
 
With education adopted from the Netherlands, Syarif hopes that many industrialists will send their employees to further explore logistics science, which will most definitely impact the logistics costs in that industry.
 
"I believe that if businesspeople have an adequate knowledge about it, they will be able to do the arrangements much better," said Syarif.
 
Syarif believes that the necessity for HR in the logistics sector in the future will be increasing, considering the growth of the number of ports and infrastructures that are being built.
 
Meanwhile, the Chairperson of Yayasan Sejuta Sahabat Indonesia Eka Sari Lorena Soerbakti, who collaborated with the Maastricht School of Management (MSM) and Universitas Udayana, said that the school will be built in Bali and will start operating in November 2016.
 
"As of now there are 10 people who registered. Our target is 12 to 15 people. It will indeed be a small class," she said.
 
According to the owner of Eka Sari Lorena (ESL) Logistics, the logistics costs in Indonesia take up 20 to 30 percent of the entire industrial operational costs. The percentage itself is considered one of the highest in the world because in other countries, it is only around 9 to 12 percent.
 
She believes that with well-educated experts, it will impact the logistics costs up to 5 percent and simultaneously make Indonesia more competitive.
 
"If our calculation with logistics companies is correct, then they will be able to do their activities more efficiently and save up to 3 to 5 percent of their operational costs," said Lorena. 
Editor: Ade Marboen
http://www.antaranews.com/berita/572749/indonesia-siap-cetak-master-logistik-dalam-negeri

Malaysian Stockpiles Jump, Pressuring Palm Oil Prices

12

Jul

Malaysian Stockpiles Jump, Pressuring Palm Oil Prices

At the close of trading on Monday (11/7) futures contracts for CPO for delivery September 2016, the active contract on the Bursa Malaysia, fell 2 [...]

Malaysian Stockpiles Jump, Pressuring Palm Oil Prices. At the close of trading on Monday (11/7) futures contracts for CPO for delivery September 2016, the active contract on the Bursa Malaysia, fell 2 points or 0.09% to 2,359 ringgit per ton. This figure shows that throughout the current year, the price has already dropped 12.33%.   According to a Bloomberg survey median that involved eight respondents from analysts, contractors and traders, CPO stock in Malaysia stood at 1.72 million at the end of June, up 4.2%. Meanwhile, CPO production leapt 10% to 1.49 million tons, or increased 4.9%. In terms of exports, overseas shipments are predicted to decrease by 5.5% to 1.21 million tons, or the lowest level since 2008.    The Malaysian Palm Oil Board (MPOB) itself will release the official data on Tuesday (12/7/2016).   The Malaysian Palm Oil Association that manages a number of producer companies predicted CPO production last month would increase 10.5% to 1.51 million tons. This is based on the plant’s harvesting cycle and the lackluster demand for products made from palm oil.    The decreased exports are predicted to be because the Ramadan holiday period did not cause a spike in consumer demand. The main reason for this is the way purchases dropped in India, with its CPO import rate falling by 46% in June to 195,105 tons.    Ivy Ng, Regional Head of Plantations at CIMB Investment Bank Bhd, said that negative sentiment toward CPO meant the price this month will lie in the range of 2,300-2,600 ringgit per ton. The higher palm oil production is a sign that the poor weather from El Nino is improving.    Alan Lim, an analyst for MIDF Research, said in his research publication that CPO supplies in Malaysia, as the second largest palm oil producer in the world, reached 1.83 million tons at the end of June due to weakening demand. Last month’s export data showed a decrease of 10%. Despite that, supply is still under the 2 million ton psychological threshold, so it continues to support price stability. “We are maintaining the assumption that the average CPO price for 2016 will reach 2,450 ringgit per ton, up 14% from 2015, which was valued at 2,153.5 per ton,” he explained in the study that was cited by Bisnis.com on Monday (11/7/2016).  Source: Bisnis Indonesia

OIL PRICE: US Dollar Strengthens, WTI Falls to US$44.76/barrel

12

Jul

OIL PRICE: US Dollar Strengthens, WTI Falls to US$44.76/barrel

West Texas Intermediate crude for August delivery fell 65 cents to settle at $44.76 a barrel on the New York Mercantile Exchange on Monday, or [...]

OIL PRICE: US Dollar Strengthens, WTI Falls to US$44.76/barrel. West Texas Intermediate crude for August delivery fell 65 cents to settle at $44.76 a barrel on the New York Mercantile Exchange on Monday, or Tuesday morning Jakarta time. Meanwhile, Brent for September settlement lost 51 cents, or 1.1 percent, to $46.25 a barrel on the ICE Futures Europe exchange, the lowest close since May 10, 2016. The number of oil rigs operating in the US climbed by 10 last week to 351, according to data from Baker Hughes Inc. cited by Bloomberg. Oil prices fluctuated on Monday following a global stock market rally and a stronger US dollar, which reduced the appeal of commodities priced in the currency. “Oil has been choppy,” Phil Flynn, senior market analyst at Price Futures Group, told Bloomberg. It initially fell on concerns over rising supplies then advanced as stocks rallied, and ultimately settled lower on the stronger US dollar, he added. The Standard & Poor’s 500 Index climbed to a fresh record, while the Bloomberg Dollar Spot Index, which measures the greenback against 10 major currencies, rose as much as 0.6 percent on Monday. “The dollar index going higher at the same time that stocks are going higher is creating a bit of a mixed signal,” Bob Yawger, director of energy futures at Mizuho Securities USA, told Bloomberg. Source: Bisnis Indonesia

RUBBER PRICES ON JULY 12: Extending Strength Ignores Yen

12

Jul

RUBBER PRICES ON JULY 12: Extending Strength Ignores Yen

Rubber price rose by 0.60% or 0.90 points to 151.20 yen per kilogram (kg) at 7:09 WIB. Previously, rubber price opened with an increase by 0.20% or [...]

12

Jul

Cocoa Prices Jump After Brexit Vote

Cocoa futures traded in London climbed to the highest level since 1977, boosted by a drop in the pound since the U.K. voted to leave the European [...]

Cocoa Prices Jump After Brexit Vote. Cocoa futures traded in London climbed to the highest level since 1977, boosted by a drop in the pound since the U.K. voted to leave the European Union, according to Bloomberg on Monday (11/7).
 
Since chocolate makers pay in euros or U.S. dollars, prices in both currencies have declined since the June 23 Brexit referendum.
 
“Cocoa is not more expensive, it’s a little bit cheaper than before the Brexit,” said Laurent Pipitone, economics and statistics director at the London-based International Cocoa Organization in a phone interview.
 
Futures for September delivery reached 2,520 pounds, or $3.24 a ton, on Friday on the ICE Futures Europe exchange, according to data compiled by Bloomberg. While prices in pounds have rallied 10 percent since the Brexit vote, they’ve dropped 1.1 percent in euros and 3.9 percent in dollars.
 
Cocoa is headed for a fifth straight annual gain, the longest run since at least 1989. Prices have climbed after dry weather in West Africa hurt one of two annual harvests, leading traders including Cargill Inc., Olam International Ltd. and Sucres et Denrees SA to predict a production shortfall.
 
Source Bisnis Indonesia

Palm oil industry faces major challenges

29

Jun

Palm oil industry faces major challenges

"In order to reduce losses as a result of the natural disaster, the company will continue to increase efficiency as well as utility in its [...]

Palm oil industry faces major challenges. "In order to reduce losses as a result of the natural disaster, the company will continue to increase efficiency as well as utility in its efforts, so that the financial indicators show positive progress and development," said President Director of PT Sawit Sumbermas Sarana (SSMS) Rimbun Situmorang to the press in Jakarta on Tuesday. According to him, the difficulties faced by the palm oil industry due to the impact of El Nino and the decline in CPO prices in the global market were not just experienced by the corporation but also by all similar industries nationally. Although it will face major challenges, he said, signs of improvement such as the increasing price of crude palm oil (CPO) are beginning to show a positive trend. Although the price of CPO is currently improving in the last few months, he added, the decline in commodity prices will still affect the corporation's performance in 2016, especially since El Nino, which has been occurring since 2015, is still ongoing and is predicted to continue to have an impact until the end of 2017. "Last year, El Nino caused the production of palm oil by the corporation to decline by 16 percent, and we predict that until the end of 2016, the corporation's CPO production will be corrected between 15 and 20 percent," he said. Rimbun predicts that palm oil production will improve again in 2017 or 2018. While the price of CPO in the global market in April-May averaged between 600 and 630 US dollars per metric ton. Although facing difficulties, he said, the corporation could still distribute cash dividends to shareholders of Rp168.27 billion or 30 percent of the net income of the corporation's fiscal year 2015. He stated that the corporation is still able to distribute shares in the midst of the downturn in the palm oil industry due to the increase in the performance of the corporation whose shares were recorded in the capital market since December of 2013 being significantly noticeable. The area of the corporation's acreage currently reaches 69,841 hectares, up 105 percent compared to 2014, while until the end of 2015, the number of fresh fruit bunches (FFB) processed in factories owned by the corporation reached 1.35 million tons which produced 321,238 tons of CPO. The average age of the corporation's palm oil plants reaches seven years and the majority of plants will enter a peak year of production in the next three to five years. The corporation's management this year has allocated Rp450 billion in capital expenditure (capex), and in the first three months, the funds taken from cash were absorbed 20 percent, which was used for fertilization and planting palm oil trees.
Editor: Ruslan Burhani

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