Latest News: Page 88

CPO PRICES 13 JUNE: Initially Strengthened, CPO Turns To Slightly Weaken 0.08%

13

Jun

CPO PRICES 13 JUNE: Initially Strengthened, CPO Turns To Slightly Weaken 0.08%

The CPO futures contract for August 2016, the most active contract on Bursa Malaysia, opened up 0.43% or 11 points this morning at a position of [...]

CPO PRICES 13 JUNE: Initially Strengthened, CPO Turns To Slightly Weaken 0.08%. The CPO futures contract for August 2016, the most active contract on Bursa Malaysia, opened up 0.43% or 11 points this morning at a position of MYR2,591 per ton.
The price of palm oil then moved down slightly 0.08% or 2 points to the level of MYR2,578 per ton at 10.01 WIB.
Meanwhile, the rupiah exchange rate weakened on the Asian spot market against the US dollar. The Malaysian currency depreciated 0.69% to MYR4.10 against the US dollar at 10.17 WIB.
In last week’s trade (10/6/2016), CPO price movement closed down slightly 0.27% or 7 points to the position of MYR2,580 per ton.
Based on the research team from MIDF Research as cited from Bloomberg, the CPO price that opened stronger was in line with Malaysian palm oil exports that increased 9% (month-on-month/MoM) to 1.28 million metric tons.
CPO Price Movement for the August 2016 Contract

Date
Level
Change

11/6/2016(10.01 WIB)
2,578
-0,08%

10/6/2016
2,580
-0,27%

9/6/2016
2,587
-0,08%

8/6/2016
2,589
-0,38%

7/6/2016
2,599
-2,29%

Source: Bloomberg 
 
Editor: Bunga Citra Arum Nursyifani
http://market.bisnis.com/read/20160613/94/557087/harga-cpo-13-juni-sempat-dibuka-menguat-cpo-berbalik-melemah-tipis-008

RUBBER PRICES 13 JUNE: Snap losing streak, close with a 3.58% gain

13

Jun

RUBBER PRICES 13 JUNE: Snap losing streak, close with a 3.58% gain

The price of rubber closed by skyrocketing up 3.58% or 5.30 points to 153.30 yen per kilogram (kg), after opening with stagnant movement at a level [...]

OIL PRICES: Asian Economic Woes Weigh, WTI Tumbles Below $50 A Barrel

13

Jun

OIL PRICES: Asian Economic Woes Weigh, WTI Tumbles Below $50 A Barrel

WTI crude oil futures for July delivery fell 1.22% or 60 cents to US$48.47 per barrel at 10.12 WIB, after opening down 0.45% at $48.85 per barrel. At [...]

OIL PRICES: Asian Economic Woes Weigh, WTI Tumbles Below $50 A Barrel. WTI crude oil futures for July delivery fell 1.22% or 60 cents to US$48.47 per barrel at 10.12 WIB, after opening down 0.45% at $48.85 per barrel.
At the same time, the European benchmark for Brent oil futures for August delivery retreated 0.91% or 46 cents to $50.08 per barrel, after opening down 0.24% or 12 cents at $50.42 per barrel.
According to a survey conducted in collaboration with the Japanese Ministry of Finance and the Economic and Social Research Institute, as quoted by Reuters today, the Business Survey Index (BSI) sentiment of large-scale manufacturers in the country stood at -11.1 in April-June 2016, down from -7.9 in January-March.
In addition, concerns over growth in China remain, mainly due to excess industrial capacity and rising debt.
With the gloomy economic growth picture in Asia, many oil speculators are selling off their positions after taking profit from a crude oil price rally since it hit its lowest level in a decade earlier this year.
Even so, some analysts expect that oil demand in Asia, especially China, will remain strong.
`In contrast to soft global crude prices, China’s crude demand will remain supportive this year, as demand continues to be supported by inventory building and refinery runs,` energy consultancy FGE said in its June research, as quoted by Reuters.
On the other hand, the US dollar has rebounded about 1.3% from its lowest level this month against a basket of major currencies, driven by the potential for interest rate hikes in the US and concerns over the Asian economies that dragged down currencies in the region.
The US dollar index, which measures the movement of the US dollar against a basket of major currencies, rose 0.04% or 0.034 points to 94.605 at 11.01 WIB, after opening slightly higher by 0.09% at 94.654.

Editor : Bunga Citra Arum Nursyifani

http://market.bisnis.com/read/20160613/94/557103/harga-minyak-kekhawatiran-ekonomi-asia-meningkat-wti-terlempar-dari-us50-per-barel

Govt Affirms Raw Sugar Import to Stabilize Prices

13

Jun

Govt Affirms Raw Sugar Import to Stabilize Prices

"The government's efforts to lower the price of sugar involve various parties, one of which is the BUMN state company. In a Limited Meeting of the [...]

Govt Affirms Raw Sugar Import to Stabilize Prices. `The government's efforts to lower the price of sugar involve various parties, one of which is the BUMN state company. In a Limited Meeting of the Coordinating Ministry for Economic Affairs, PTPN has committed to lowering the price of sugar to Rp12,500 per kilogram,` said Trade Minister Thomas Lembong in a working meeting with the Indonesian House of Representatives in Jakarta on Thursday evening. Thomas said that PTPN plans to provide a guarantee of certain income for sugar cane farmers equivalent to a yield of 8.5 percent through a new system, namely the purchase of raw sugar cane at Rp55,652 per quintal. Thomas explained that the system is an update of the previous profit-sharing system, in which PTPN believes that the system of guaranteeing farmers' incomes requires a huge cost, most of which can be taken from the processing of raw sugar equivalent to 381,000 tons. `It is hoped that PTPN can provide permission for the importation of raw sugar and can process it after the milling season is finished, namely in October 2016, in order to replenish the early 2017 stock. It is hoped that this approach can lower the price of sugar and provide income guarantees for sugar cane farmers in the future,` Thomas said. Thomas added that as of now, his party has not yet issued a permit for the importation of raw sugar, but soon a discussion will be held during a coordination meeting because the decision cannot be postponed for too long. `It is true that the permit has not yet been issued. Perhaps in the coming week, we will hold a food coordination meeting and we cannot postpone it too long. Perhaps in the coming week, a decision will be made,` Thomas said. Meanwhile, the Chairman of the Indonesian Sugarcane Farmers Association (APTRI), Abdul Wachid, supports the government's plan to import 381,000 tons of raw sugar. `The importation of raw sugar, which will be carried out by PTPN X, is a policy that will increase the milling capacity of the sugar factories owned by PTPN,` Wachid said. The government, through Ministry of State-Owned Enterprises Letter Number S-288/MBU/05/2016, has submitted a request to the Minister of Trade, Minister of Agriculture and Minister of Industry for a raw sugar import permit. The government has also assigned PT Perkebunan Nusantara (PTPN) X to carry out the raw sugar importation, which will later be allocated to PTPN IX, PTPN X, PTPN XI, PTPN XII, PT PG Rajawali I and PT PG Rajawali II.
Editor: Ruslan Burhanihttp://www.antaranews.com/berita/566417/pemerintah-tegaskan-impor-raw-sugar-untuk-stabilisasi-harga

Trade ministry: Papuan coffee has huge export potential

13

Jun

Trade ministry: Papuan coffee has huge export potential

"The local industry includes coffee. I think one of the specific targets of this working visit is related to coffee. The Trade Ministry team [...]

Trade ministry: Papuan coffee has huge export potential. `The local industry includes coffee. I think one of the specific targets of this working visit is related to coffee. The Trade Ministry team identified (coffee) as having great potential,` Thomas said in Jayapura, Papua province, on SundayThomas said that the advantage of Papuan coffee is its superior taste because the Arabica type of coffee planted on the highlands has a sweeter aroma compared to other Arabica coffee types, and not many areas in Indonesia have that advantage.`I also learned a lot from business actors that the taller the Arabica coffee is planted, the sweeter its aroma. It seems that there are not many areas in Indonesia that are optimal like that, only Papua has the best potential and it just needs to improve farmer guidance and processing,` Thomas said.Thomas explained that at the moment, particularly in Dogiyai district, Papua province, guidance and investment in infrastructure, machinery, and packaging equipment are still needed.`I was told by one of the trainers in the Dogiyai coffee center that the machinery used was donated by Japan in 1975, so a little investment may be needed. Indeed, it has to be end-to-end, and perhaps the market can play a role,` Thomas said.According to Thomas, an integrated scheme can be implemented later, such as the provision of a collection, drying, and processing location near the traditional market.The coffee plantations in the Dogiyai district are plantations left behind by Dutch missionaries in the 1890s. In that era, most of the Dogiyai community were coffee farmers. As time passed, the community started to plant less coffee and switched to working as construction laborers to earn quick money.Meanwhile, The Head of the Strategic Issues Management Center of the Trade Ministry, Ni Made Ayu Marthini, said that the Dogiyai district also had five coffee SMEs. One of them was supervised by a church pastor. Apart from the plantation left by the Dutch, there was also a one-hectare coffee plantation in the Dogiyai district belonging to the Catholic Schooling Education Foundation (YPPK) junior high school.`This school includes coffee education in its teaching curriculum, so the students are taught how to harvest and process coffee at school,` Made said.Made hopes that Papuan coffee can penetrate the export market in the next three years and that it can be served at the 2020 National Sports Week (PON) in Papua.
Editor: B Kunto Wibisono
http://www.antaranews.com/berita/566931/mendag-nilai-kopi-papua-miliki-potensi-ekspor-besar

GAPMMI: Sugar supply disruption is getting worse

10

Jun

GAPMMI: Sugar supply disruption is getting worse

"The production has been slightly disrupted due to the hampered supply. The government should have anticipated this from the beginning," said GAPMMI [...]

GAPMMI: Sugar supply disruption is getting worse. `The production has been slightly disrupted due to the hampered supply. The government should have anticipated this from the beginning,` said GAPMMI Chairman Adhi S. Lukman in Jakarta on Thursday (June 9) night.Due to the issue, Adhi said that the food and beverage industry had difficulties and had no other choice but to maintain the price. If they want to change the price at consumer level, they need to issue a notice one month in advance.The situation is worsened by the delayed milling season that was initially estimated to start at the end of May 2016 due to the rainy season. `During the rainy season, the cane yield is low and the output is not significant,` he said.He said that until to date, there were at least 10 food and beverage companies that had declared that they were in a very concerning situation. Several of the companies need 70,000 tons of sugar supply per year, while the supply they received so far for the first semester was only 30,000 tons. `At least 40,000 tons of sugar should have been available in the first semester. That is the reason why they called me and said they were in an SOS situation, or save our soul, as they are afraid that they will experience a sugar supply shortage before Eid,` he said.The GAPMMI itself will meet with the Ministry of Commerce to discuss this issue. In addition, the business group, together with Kadin, will also conduct a direct inspection of the price of goods sold in the market.The Indonesian Employers Association (Apindo) also regrets the shortage in the industrial sugar stock. Apindo Chairman Hariyadi Sukamdani said that the food and beverage companies had been sacrificed for the provision of consumer sugar.If this situation is allowed to continue, Hamdani is convinced that it will cause problems, both at the level of producers and consumers.`This issue must be resolved and must receive serious attention. We urge the government to sort out the bureaucracy related to the industrial sugar, and properly manage the available data,` he said.
Editor: B Kunto Wibisonohttp://www.antaranews.com/berita/566438/gapmmi-keluhkan-tersendatnya-suplai-gula++++++++++++++++++++

Latest News