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South Sumatra CPO and TBS Prices Decline

11

May

South Sumatra CPO and TBS Prices Decline

Based on the pricing results issued by South Sumatran Plantation Agency, the price decline occurred in the fresh fruit bunch (TBS) and crude palm oil [...]

Government must be firm about oil palm plantation moratorium

11

May

Government must be firm about oil palm plantation moratorium

"As entrepreneurs, we are confused and wonder which moratorium the government will impose. Therefore, we ask the government to make a decision soon," [...]

Government must be firm about oil palm plantation moratorium. `As entrepreneurs, we are confused and wonder which moratorium the government will impose. Therefore, we ask the government to make a decision soon,` said the President Director of PT Sawit Sumbermas Sarana Tbk, Rimbun Situmorang to the press in Pangkalan Bun, Central Kalimantan, Tuesday.President Joko Widodo in the Seribu Islands, (14/4) said the government plans to impose a moratorium on palm oil concessions in a number of Indonesian provinces.Rimbun said that the government must be firm in issuing the moratorium policy, whether in relation to the opening of new palm oil plantations or the opening of palm oil plantations already permitted five years ago.He reminded the national palm oil industry to date has made a large contribution to non-oil and gas export revenues, so deserves the government's full support.`The government should support the palm oil industry by giving certainty of business and law,` he said.BPS data shows that in 2015 exports from the plantation sub-sector for palm oil products amounted to US$ 18.65 billion, while rubber was only US$ 4.75 billion, coconut US$ 1.35 billion, cocoa US$ 1.25 billion, and coffee US$ 1.10 billion.Rimbun is afraid that if the government does not immediately give policy certainty, the palm oil industry will be adversely affected as a whole.If indeed the government is concerned about the rapid expansion of palm oil plantations, it is not true because the national palm oil industry has already managed its operations well from upstream to downstream.Another equally important thing, he said, is that the palm oil industry in Indonesia is able to employ millions of farmers and workers who depend on the plantation sector for their living.The number of workers absorbed by the industry has increased from year to year, from 2.1 million in 2000 to 8.4 million in 2015."This shows that the palm oil industry is labor-intensive and absorbs a lot of workers," he said.Separately, the Secretary-General of the Indonesian Palm Oil Business Association (Gapki) Togar Sitanggang said that he hopes the government's plan to issue a moratorium on the expansion of palm oil plantations will be considered because it will weaken the plantation sector that contributes to non-oil and gas exports.`The government should first discuss whether a moratorium is necessary or not with the business community,` he said.
Editor: Ruslan Burhani

CPO PRICE MAY 10: Rises 0.38% As Ringgit Weakens

10

May

CPO PRICE MAY 10: Rises 0.38% As Ringgit Weakens

The CPO futures for July 2016, the most actively traded contracts in Bursa Malaysia, opened with stagnant movements at the level of 2,662 ringgit per [...]

CPO PRICE MAY 10: Rises 0.38% As Ringgit Weakens. The CPO futures for July 2016, the most actively traded contracts in Bursa Malaysia, opened with stagnant movements at the level of 2,662 ringgit per ton.
The price of the commodity then strengthened by 0.38% or 10 points to 2,672 ringgit per ton at 10.12 WIB.
In the trading on Monday (9/5/2016), the CPO price closed up by 1.29% or 34 points to 2,662 ringgit per ton, continuing the strengthening at the beginning of the trading in line with the increasing price of raw oil.
Meanwhile, the ringgit exchange rate was observed to have weakened in the spot market in Asia against the US dollar. The Malaysian currency depreciated by 1.05% to 4.05 ringgit per US dollar at 10.12 WIB.
Price Movements for CPO Contracts in July 2016

Date

Level

Change

10/5/2016(at 10.12 WIB)
2.672
+0.38%

9/5/2016

2.662

+1.29%

6/5/2016

2.628

-0.04%

5/5/2016

2.629

+0.50%

4/5/2016

2.616

+3.03%

Source: Bloomberghttp://market.bisnis.com/read/20160510/94/545764/harga-cpo-10-mei-menguat-038-seiring-pelemahan-ringgit

RUBBER PRICES MAY 10: Closed up 0.61% following crude oil prices

10

May

RUBBER PRICES MAY 10: Closed up 0.61% following crude oil prices

The rubber prices closed higher by 0.61% or 1.10 points to a level of 180.00 Yen/kg after opening with a slight decline of 0.06% or 0.10 points at [...]

RUBBER PRICES MAY 10: Closed up 0.61% following crude oil prices. The rubber prices closed higher by 0.61% or 1.10 points to a level of 180.00 Yen/kg after opening with a slight decline of 0.06% or 0.10 points at 178.80 Yen/kg in early trading.
The firming rubber prices during the closing of today's trade are in line with increases in the price of crude.
The price of June WTI futures was observed to increase by 0.30% to US$43.57/ barrel at 2:59 PM Western Indonesian Time, while the European benchmark Brent oil for July contracts was also seen to increase by 0.69% to US$43.93/barrel.
Earlier in early morning trading, the price of rubber had opened lower following the decline in the price of crude due to diminishing concerns about the impact of the forest fires in Canada, which had been overshadowed by the high supply levels in the US.
Price Movement for September 2016 Rubber Contracts on the TOCOM

Date

Price (Yen/Kg)

Change

10/5/2016

180.00

+0.61%

9/5/2016

178.90

-1.54%

6/5/2016

181.70

-2.10%

5/5/2016

185.60

+0.11%

2/5/2016

185.40

-3.94%

Source: Bloomberghttp://market.bisnis.com/read/20160510/94/545838/harga-karet-10-mei-ditutup-menguat-061-mengikuti-harga-minyak-mentah

10

May

U.S. dollar rises on Fed comments

Federal Reserve Bank of Chicago President Charles Evans said Monday that the U.S. economic fundamentals are solid and growth should accelerate to [...]

U.S. dollar rises on Fed comments. Federal Reserve Bank of Chicago President Charles Evans said Monday that the U.S. economic fundamentals are solid and growth should accelerate to around 2.5 percent for the rest of this year, adding that the unemployment rate will likely fall to 4.75 percent.He also indicated that the Fed's current `wait-and-see` approach to policy is appropriate.`Continued patience in the monetary policy response is appropriate to ensure that economic growth remains on track, the labor market continues to strengthen, wages begin to rise further, and that all of this supports a continued increase in currently low inflation back up to our two percent objective,` Evans said.The dollar index, which measures the greenback against six major currencies, rose 0.27 percent to 94.141 in late trading.In late New York trading, the euro fell to 1.1388 U.S. dollars from 1.1394 U.S. dollars in the previous session, and the British pound decreased to 1.4407 U.S. dollars from 1.4418 U.S. dollars. The Australian dollar dropped to 0.7317 U.S. dollar from 0.7361 U.S. dollar.The U.S. dollar bought 108.45 Japanese yen, higher than 107.12 yen of the previous session. The U.S. dollar decreased to 0.9709 Swiss franc from 0.9720 Swiss franc, and it was up slightly to 1.2976 Canadian dollars from 1.2938 Canadian dollars, Xinhua reported.
Editor: Adicah Nugrahani
http://www.antaranews.com/berita/559833/dolar-as-menguat-didukung-komentar-pejabat-fed?utm_source=topnews&utm_medium=home&utm_campaign=news

CPO PRICE MAY 9: Soars 1.26% Amid Strengthening Crude Oil Prices

09

May

CPO PRICE MAY 9: Soars 1.26% Amid Strengthening Crude Oil Prices

The CPO futures for July 2016, the most active contract in Bursa Malaysia, opened with a significant gain of 1.18% or 31 points at the price of 2,659 [...]

CPO PRICE MAY 9: Soars 1.26% Amid Strengthening Crude Oil Prices. The CPO futures for July 2016, the most active contract in Bursa Malaysia, opened with a significant gain of 1.18% or 31 points at the price of 2,659 per ton in the early trading.
The price of the commodity then sharply increased 1.26% or 33 points to 2,661 ringgit per ton at 10.09 WIB.
At the trading on Friday (6/5/2016), CPO closed with a slight weakening of 0.04% or 1 point to 2,628 ringgit per ton, continuing the weakness in the morning.
The strengthening of the crude palm oil (CPO) price in the early trading is in line with the surge in the crude oil price this morning.
The price of WTI oil for the June contract is significantly up 1.90% to US$45.51 at 10.05 WIB, while the European benchmark for Brent oil for the July contract strengthens 1.37% to US$45.99 per barrel.
Meanwhile, the ringgit exchange rate is seen strengthening in the Asian spot market against the US dollar. The Malaysian currency is appreciated 0.10% to 4.00 ringgit per US dollar.
Price Movement for CPO Contract July 2016

Date

Level

Change

9/5/2016(10.09 WIB)
2.661
+1,26%

6/5/2016

2.628

-0,04%

5/5/2016

2.629

+0,50%

4/5/2016

2.616

+3,03%

3/5/2016

2.539

-2,08%

Source: Bloomberg 
Editor : Bunga Citra Arum Nursyifani http://market.bisnis.com/read/20160509/94/545323/harga-cpo-9-mei-melesat-126-seiring-penguatan-harga-minyak-mentah

Latest News

Latest News

11

South Sumatra CPO and TBS Prices Decline

11

Government must be firm about oil palm plantation moratorium

10

CPO PRICE MAY 10: Rises 0.38% As Ringgit Weakens

10

RUBBER PRICES MAY 10: Closed up 0.61% following crude oil prices

10

U.S. dollar rises on Fed comments

09

CPO PRICE MAY 9: Soars 1.26% Amid Strengthening Crude Oil Prices

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