Latest News: Page 66

Indonesian Cocoa Day: a momentum to increase local chocolate consumption

22

Nov

Indonesian Cocoa Day: a momentum to increase local chocolate consumption

"Although organized in a simple way, it is hoped that the commemoration of Indonesian cacao day this year will keep the spirit of the entire [...]

Indonesian Cocoa Day: a momentum to increase local chocolate consumption. `Although organized in a simple way, it is hoped that the commemoration of Indonesian cacao day this year will keep the spirit of the entire stakeholder in developing national cacao,` Panggah said.The series of events that will be carried out are a cacao and chocolate product exhibition, an announcement of the best cacao beans of 2016, and a seminar as well as a workshop on cacao.Panggah delivered, at the moment the consumption of cacao by Indonesian people is still relatively low at an average of 0.4 kg per capita per year, and this is far lower if compared with the consumption in Asian nations such as Singapore and Malaysia which has reached 1 kg per capita per year.`One of the efforts to increase chocolate consumption is through a promotion that is carried out both domestically and abroad, as well as through the Indonesian Cacao Day Commemoration movement,` he explained.Indonesian Cacao Day Commemoration has become a tradition for all of the stakeholders of Indonesian cacao and chocolate that is celebrated every year since 2012.  `Hopefully this activity can be carried out every year, so that domestic chocolate consumption can increase in line with the growth of the downstream processed cacao industry in Indonesia,` Panggah said.
Editor: Jafar M Sidik
http://www.antaranews.com/berita/597479/hari-kakao-indonesia-momentum-tingkatkan-konsumsi-cokelat-lokal

Tanker explodes in Batam, oil theft suspected

22

Nov

Tanker explodes in Batam, oil theft suspected

"After an investigation by the Riau Islands Regional Police, the ship was found to have another name, MT Fajar. The tanker was used to steal oil in [...]

Tanker explodes in Batam, oil theft suspected. `After an investigation by the Riau Islands Regional Police, the ship was found to have another name, MT Fajar. The tanker was used to steal oil in Karimun,` said Riau Islands Regional Police Chief Brigadier General Sam Budigusdian in Batam on Monday. The tanker was ordered by O, an employee of a hotel in Batam, at the behest of the hotel owner who was also the ship owner, to sail to Karimun on October 28. After several hours of sailing, it arrived in the area behind the Karimun Customs Office at approximately 11:00 p.m. WIB. Next, the ship took on oil from MT Tobanganen, which was evidence in a smuggling case still pending in court until it was completed on October 29 at approximately 4:30 a.m. WIB.  `Next, the tanker sailed to OPL on the instructions of the suspect O and was sold. Next, the ship sailed to Batam,` he said. The Riau Islands Regional Police, he said, will also summon the KPLP and the Prosecutor's Office for questioning in the case. `Eight suspects have been named in this case from the ship's crew, including O who gave the orders,` said Sam. After the ship was in Batam and undergoing repairs, it exploded, killing one person and seriously injuring three others. `This was due to negligence because the ship was not completely clear of oil and yet repairs had begun, which ultimately led to the explosion,` he said. Previously, the Karimun Police in the Riau Islands Province stated that the seals on the storage tanks for the MT Tabonganen 19 GT 757's crude oil or CPO, the cargo of which is suspected to have been stolen, were broken. Karimun Police Chief AKBP Armaini in Tanjung Balai Karimun said that several investigators had boarded the Indonesian-flagged tanker as a follow-up to the report filed by the Tanjung Balai Karimun District Prosecutor's Office on Monday (14/11) regarding the disappearance of evidence in the form of thousands of barrels of the ship's CPO cargo.He said that the volume of crude oil in the ship's hull would be remeasured as part of the investigation process in the case.
Editor: Tasrief Tarmizi
http://www.antaranews.com/berita/597404/tanker-meledak-di-batam-terlibat-pencurian-minyak

RUBBER PRICES: Spurred by Speculation of Higher Demand, Rubber Closes Stronger

17

Nov

RUBBER PRICES: Spurred by Speculation of Higher Demand, Rubber Closes Stronger

Rubber for April 2017 delivery, the most active contract on the Tokyo Commodity Exchange, closed 0.33% or 0.70 points higher at 213.10 yen/kilogram [...]

RUBBER PRICES: Spurred by Speculation of Higher Demand, Rubber Closes Stronger. Rubber for April 2017 delivery, the most active contract on the Tokyo Commodity Exchange, closed 0.33% or 0.70 points higher at 213.10 yen/kilogram (kg). Earlier, the rubber contract for April opened with an increase of 1.04% or 2.20 points at 214.60 yen/kg. On Wednesday (16/11/2016), the price of April rubber contracts closed up 6.04% or 12.10 points to the level of 212.40. As reported by Bloomberg, strengthening rubber prices in line with speculation of increased demand and the weakening Japanese yen. `Rubber strengthened amid a rally in copper and other industrial commodities in line with expectations of increased demand due to the US President-elect Donald Trump's infrastructure spending plan,` said Kazuhiko Saito, an analyst at Fujitomi brokerage, as quoted by Bloomberg. Meanwhile, the Japanese Yen exchange rate weakened 0.29% or 0.32 points to 109.40 against the US dollar at 14.17 WIB. Movement of April 2017 Rubber Contract Price on TOCOM     Date   Price (Yen / kg)   Change     17/11/2016   213.10   + 0.33%     16/11/2016   212.40   + 6.04%     15/11/2016   200.30   + 1.32%     14/11/2016   197.70   - 3.80%     11/11/2016   205.50   + 3.47%     Source: Bloomberg http://market.bisnis.com/read/20161117/94/603584/harga-karet-dipicu-spekulasi-kenaikan-permintaan-karet-ditutup-menguat

Libya plans on raising its oil production to 900,000 barrels

17

Nov

Libya plans on raising its oil production to 900,000 barrels

“We have been producing 300,000 barrels per day for several months, and we are gradually moving to 600,000 barrels per day. Our target is to reach [...]

U.S. dollar gains on hawkish Fed official comments

17

Nov

U.S. dollar gains on hawkish Fed official comments

Federal Reserve Bank St. Louis President James Bullard said Wednesday that "a single policy rate increase, perhaps as soon as December, would likely [...]

U.S. dollar gains on hawkish Fed official comments. Federal Reserve Bank St. Louis President James Bullard said Wednesday that `a single policy rate increase, perhaps as soon as December, would likely be sufficient to move monetary policy to a neutral setting,` Xinhua reported.He added that it is possible for the U.S. economy to get a medium-term boost if U.S. President-elect Donald Trump increases infrastructure spending and overhauls the tax code.Boston Fed President Eric Rosengren said Tuesday that the central bank won't be easily swayed from raising interest rates in December.On the economic front, the Producer Price Index (PPI) for final demand was flat in October, seasonally adjusted, missing market consensus of a 0.3 percent gain, the U.S. Department of Labor reported Wednesday.U.S. industrial production was unchanged in October after edging down 0.2 percent in September, the Federal Reserve announced.The U.S. dollar index, which measures the greenback against six major currencies, rose 0.28 percent to 100.510 in late trading.In late New York trading, the euro fell to 1.0670 U.S. dollars from 1.0720 U.S. dollars, and the British pound dropped to 1.2433 U.S. dollars from 1.2440 U.S. dollars. The Australian dollar decreased to 0.7477 U.S. dollar from 0.7545 U.S. dollar.The U.S. dollar bought 109.35 Japanese yen, higher than 109.13 yen of the previous session. The U.S. dollar rose slightly to 1.0039 Swiss francs from 1.0021 Swiss francs, and it decreased to 1.3431 Canadian dollars from 1.3468 Canadian dollars. (Uu.A012) 
Editor: Alm 
http://www.antaranews.com/en/news/596626/us-dollar-rises-on-fed-officials-comments

Government Shuts Down Sugar Factories in East Java

16

Nov

Government Shuts Down Sugar Factories in East Java

"There are some PTPN sugar factories that are inefficient and old, and these are the ones that we will close," said State-Owned Enterprises Minister [...]

Government Shuts Down Sugar Factories in East Java. `There are some PTPN sugar factories that are inefficient and old, and these are the ones that we will close,` said State-Owned Enterprises Minister Rini Soemarno at the Launching of the Farmer Card event in Situbondo Asembagus PG, East Java, today.
Minister of State-Owned Enterprises Rini Soemarno's statement is also a response to the various polemics surrounding the government's plan to close sugar factories in East Java. There are 10 sugar factories that are planned to be closed.
Although they will be closed, according to Rini, the government still guarantees that farmers will still be able to plant sugar cane to supply other sugar factories inEast Java. One of them, Asembagus PG owned by PTPN XI, will have its capacity increased from 4,000 tons per day to 6,000 tons per day.
`Once the capacity is increased, farmers will still be able to supply sugar cane and the factory will be able to keep milling. This is in order to be more efficient,` Rini said.
Including in East Java, especially in Situbondo, if the factory's capacity is increased, farmers will be able to increase production of sugar from 110 tons of sugar cane to 140 tons per hectare.
Rini even stated that if farmers' sugar cane production conditions increase, the possibility of building a new sugar factory is not ruled out.
`Sugar factories will be very profitable for farmers because they can continue to plant sugar cane and supply new sugar factories,` she said.
Rini even emphasized that in the new sugar factory, farmers will be given the opportunity to be shareholders so that there is continuity between the factory and the farmers. Because, she said, the cane factory should not end up not wanting to plant sugar cane. `That is why in the new factory, farmers will also be given the right to be shareholders so that they feel a sense of ownership,` she said.
She explained that the government's efforts are not intended to produce quality sugar because Indonesia's sugar prices are still lower than sugarinternational.

On that occasion, Rini Soemarno also launched the `Farmer Card` for sugar cane farmers in East Java. 31,000 Farmer Cards were distributed throughout East Java.
Farmer Cards are intended for farmers so that they can detect all of their needs, from fertilizer to loans requested from the bank. (OL-5)
http://www.mediaindonesia.com/news/read/77713/pemerintah-tetap-tutup-pabrik-gula-di-jatim/2016-11-16

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