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Economist: Oil prices expected to remain $40-$60

20

May

Economist: Oil prices expected to remain $40-$60

"Oil prices in the short and long term may remain at a level of 40 to 60 US dollars per barrel. Why? Because Middle Eastern countries would not be [...]

Economist: Oil prices expected to remain $40-$60. `Oil prices in the short and long term may remain at a level of 40 to 60 US dollars per barrel. Why? Because Middle Eastern countries would not be strong if oil prices continuously remain below 40 US dollars per barrel,` said Chatib in the `2016 Citi Indonesia Market Outlook` event in Jakarta, Thursday night.  He explained that this is the first time Saudi Arabia has had to borrow, because their income from oil has fallen and on the other hand their spending for subsidies is still quite large. `Saudi Arabia has also revoked subsidies and this was done because oil prices are inexpensive, similar to Indonesia last year,` he said. `However, on the other hand,` he said, `if oil prices exceed 60 to approach 70 US dollars per barrel, shale gas could be produced and of course OPEC countries would not want that to happen.  `If shale gas is produced, it will become a competitor of oil, so it is possible in the long term that global oil prices will be in the range of 40 to 60 US dollars per barrel, however in the short term they could increase, for example, if there was news that US reserves were suddenly running low; oil prices could rise briefly but then fall down again.` he said.  Regarding the impact for Indonesia, Chatib stated that the effect was being felt in the `threat balance` of our subsidies. `Because oil prices are also low, subsidies will also be unavailable, which will undoubtedly lower the effect on oil imports. However, on the other hand with low oil prices our exports will also be low; I'm not very worried about the current account issue over the next two years because the current account issue would come from infrastructure, not from oil,` said Chatib.
Editor: Tasrief Tarmizihttp://www.antaranews.com/berita/561980/ekonom-harga-minyak-diperkirakan-tetap-40-60-dolar-as

Fantastic, This One Teapot Is Valued Hundreds of Millions

18

May

Fantastic, This One Teapot Is Valued Hundreds of Millions

VIVA.co.id – Da Hong Pao tea is the most expensive tea in the world. Of course, 1 sip of this tea alone is very valuable and worth thousands [...]

Fantastic, This One Teapot Is Valued Hundreds of Millions. VIVA.co.id  – Da Hong Pao tea is the most expensive tea in the world. Of course, 1 sip of this tea alone is very valuable and worth thousands of dollars. A small teapot of Da Hong Pao tea is worth U$10,000 or around Rp133 million. Compared to gold, this tea is apparently 30 times more expensive. What makes this type of tea so pricey? 
According to a Chinese tea expert, Xiangning Wu, this tea is considered extremely rare because the Da Hong Pao tea leaves are no longer commonly found in the market. This plant is a rare variety that grows in the Wuyi Mountains, in the Fujian Province of China.
Da Hong Pao plants are very rare, that even the locals have a special ritual every spring to pray to God Lu Yu to make new Da Hong Pao buds grow. This plant is indeed invaluable.
Da Hong Pao tea has become the most expensive tea in the world, And indeed, to enjoy just 1 sip of this tea, we have to pay thousands of dollars! A small teapot of Da Hong Pao tea is priced at $10,000 or around Rp133 million. If compared to the price of gold, this tea seems to be 30 times more expensive.  What makes this type of tea so expensive? According to Chinese tea expert Xiangning Wu, this type of tea is said to be very rare since the Da Hong Pao tea leaves are not commonly found anymore. This plant is a rare variety that grows only in the Wuyi Mountains, located in the Fujian Province of China.  Da Hong Pao plants are so rare that some locals even hold a special ritual in the spring to pray to God Lu Yu to make new Da Hong Pao leaf buds emerge. This plant is considered extraordinarily valuable.  Some reports state that when the plant is growing, the tea leaves are wiped using goat milk, and during the harvest, the leaves are roasted to help preserve their taste for up to 80 years.
Aside from its unique and rare taste, this type of tea also has health benefits. This benefit has been believed ever since the Ming Dynasty.  Currently, this type of tea even has tea enthusiasts outside of China. In 1849, a British botanist managed to obtain some of the tea plant’s seeds. However, apparently, the seeds did not grow well.  It is truly unfortunate because if the seeds had managed to grow, many researchers believe this type of tea could become a commodity worth billions of dollars per year.  Da Hong Pao tea has now become a very rare commodity. However, if you are interested in enjoying some of this tea, the Royal China Club in London offers it on their menu for $250 (Rp3.3 million) per teapot that serves four small cups.
Source: Odditycentralhttp://log.viva.co.id/news/read/773794-fantastis-satu-teko-teh-ini-dihargai-ratusan-juta

Ministry of Trade Intensifies Border Sugar Market Operations

17

May

Ministry of Trade Intensifies Border Sugar Market Operations

According to the Secretary General of the Ministry of Trade, Srie Agustina, in Jakarta on Monday, the move was made to stabilize the price of sugar [...]

Ministry of Trade Intensifies Border Sugar Market Operations. According to the Secretary General of the Ministry of Trade, Srie Agustina, in Jakarta on Monday, the move was made to stabilize the price of sugar in line with the government's target of around Rp11,500 per kilogram.“The current price of sugar is around Rp14,800 per kilogram. However, in the market operations, the price is Rp11,500 per kilogram for the Java region, and Rp12,000-Rp12,800 per kilogram outside Java,” Srie said.He continued that the sugar market operations in all regions are being conducted by PT Perusahaan Perdagangan Indonesia (PPI) (Persero), and specifically in remote areas, they are assisted by the TNI AD (Indonesian Army) cooperative and the police.The sugar that has been prepared comes from local farms.PPI itself has allocated a stock of granulated sugar to support the low-priced Ramadhan market activities throughout the country, totaling 190,000 tons.The government believes that sugar has always been a contributor to inflation during the period leading up to Ramadhan and Lebaran. Therefore, the government is truly paying attention to the price stability of the sugarcane product.Previously, PT Rajawali Nusantara Indonesia (RNI) held sugar market operations to stabilize the price of sugar in the Jakarta and Bogor areas of West Java, on May 12 and 13, 2016.At that time, PT RNI provided 100 tons of sugar, which was distributed at eight locations in Jakarta and two locations in Bogor, and the community was only allowed to buy a maximum of 5 kilograms of sugar. 
Editor: Aditia Marulihttp://www.antaranews.com/berita/561253/kemendag-intensifkan-operasi-pasar-gula-di-perbatasan

CPO PRICE MAY 16: Up 0.27 Percent, Driven by Potential Production Decline

16

May

CPO PRICE MAY 16: Up 0.27 Percent, Driven by Potential Production Decline

The CPO price for the July 2016 contract, the most active on the Malaysian stock exchange, was seen to strengthen by 0.27% to the level of 2,594 [...]

The price of sugar used for producing Garut dodol temporarily stops

12

May

The price of sugar used for producing Garut dodol temporarily stops

"We were forced to stop the production because the price of sugar, the main ingredient, has increased so we suffered a loss," said Dedy Kuswandi, [...]

The price of sugar used for producing Garut dodol temporarily stops. `We were forced to stop the production because the price of sugar, the main ingredient, has increased so we suffered a loss,` said Dedy Kuswandi, owner of `Jaya Rasa` Garut dodol in Cilawu Sub-district, Garut, Wednesday.According to him, the increase in the price of sugar has occurred for two weeks, Rp14 thousand normally Rp12 thousand per kilogram.The price of sugar has caused production costs to increase, but it is not balanced with the profit from the selling price of the dodol.`The production costs with the selling price are not balanced, so we prefer to temporarily stop until the price of sugar goes down,` he said.If the price of dodol is increased to balance the cost of production, said Dedy, it could be done, but the dodol agent refused on the grounds that they were worried about a decrease in buyer interest.He admitted to having one hundred workers, but all were not working and only cleaning the production site.Normally they were able to produce 3.5 tons of dodol per day.`We hope the government will soon overcome this sugar price increase problem so that it does not cause losses for business actors like me,` he said.Dodol is a Garut specialty food made from sticky rice and granulated sugar. Ngamplang district in Cilawu Sub-district is the center of dodol producers.
Editor: Jafar M. Sidikhttp://www.antaranews.com/berita/560228/harga-gula-paksa-produksi-dodol-garut-berhenti-sementara

Sugar Prices in Bali Continue to Rise as Stockpiles Remain Low

11

May

Sugar Prices in Bali Continue to Rise as Stockpiles Remain Low

Results from a sudden inspection by Bali Regional Inflation Control Team (TPID) reveal that the increase is mostly caused by the completion of sugar [...]

Sugar Prices in Bali Continue to Rise as Stockpiles Remain Low. Results from a sudden inspection by Bali Regional Inflation Control Team (TPID) reveal that the increase is mostly caused by the completion of sugar production period in Java, reducing supply.
`This condition causes a rise in the distributor purchase price. It is estimated that granulated sugar production will increase again in early June 2016,` said TPID Bali Deputy Chairwoman, Dewi Setyowati, in a release on Wednesday (5/1/2016).
Even though the sugar price has increased, supply in Bali still runs smoothly, only in a relatively limited amount. Monitoring reveals that there are 278 tons available at the 4 main granulated sugar distributors, which is still considered sufficient.
Dewi added that PT Perusahaan Perdagangan Indonesia (PPI) estimates a 115-ton addition to granulated sugar stocks in the third week of May 2016. TPID hopes that price volatility of granulated sugar can be controlled.
In facing this condition, distributors are urged not to hoard and take advantage of the limited number of basic necessities.
`We also urge the public to be wise and smart when shopping for and consuming daily sugar,` he said.

Editor : Gita Arwana Cakti

http://kabar24.bisnis.com/read/20160511/78/546208/stok-belum-bertambah-harga-gula-pasir-di-bali-merangkak-naik

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