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Palm Oil Price Hike, Blessing for Sebatik Farmers

24

Oct

Palm Oil Price Hike, Blessing for Sebatik Farmers

Previously they admitted that they were still dependent on Tawau Malaysia to sell their plantation results. They had to sell their palm oil at a [...]

Palm Oil Price Hike, Blessing for Sebatik Farmers. Previously they admitted that they were still dependent on Tawau Malaysia to sell their plantation results. They had to sell their palm oil at a cheaper price to the neighbouring country because there was still no company in Nunukan Regency that was able to accommodate their plantation results.
“One ton in Tawau was only worth 400 ringgit (around 1.240.000). Here it is 1.350.000,” said one of the palm oil farmers in Setabu Asri village, Monday (24/10/2016).
Asri admitted that the price of 400 ringgit was better compared to six months before. The owner of the two-hectare plantation stated that previously the broker in Malaysia only valued their palm oil at 1,700 ringgit or around 527,000 with the conversion rate of 1 ringgit to 3,100 rupiah per ton. That had not yet been deducted by transportation costs to Tawau Malaysia.
“We couldn't do anything because we could only sell the palm oil there,” added Asri.
According to Asri, the increase in the price of palm oil from 170 ringgit to 400 ringgit was due to the fact that one of the factories in Sebatik had started a trial run. Asri admitted that the existence of the factory had an impact on the competition of the price of palm oil in Sebatik.
Nonetheless, the farmer who had been engaged in palm oil for five years admitted that not all palm oil farmers in Sebatik sold their palm oil to the factory, but some of them still sold it to Tawau Malaysia for various reasons.
“There are two factories here and one of them is already operational. Since the factory was established, the price has increased because the farmers are free to choose where they want to sell it,” said Asri.

Penulis
: Contributor Nunukan, Sukoco

Editor
: Bambang Priyo Jatmiko

http://bisniskeuangan.kompas.com/read/2016/10/24/141000126/petani.di.sebatik.nikmati.kenaikan.harga.sawit

CPO PRICE OCT 24: Ringgit weakens, palm oil extends gains

24

Oct

CPO PRICE OCT 24: Ringgit weakens, palm oil extends gains

Palm oil futures for January 2017, the most active contract on Bursa Malaysia, opened 0.55 percent higher this morning or 15 points to reach the [...]

CPO PRICE OCT 24: Ringgit weakens, palm oil extends gains. Palm oil futures for January 2017, the most active contract on Bursa Malaysia, opened 0.55 percent higher this morning or 15 points to reach the level of 2,739 ringgit per ton. Its movement continues to rise 0.70 percent or 19 points to reach the position of 2,743 at 10:01 WIB. Meanwhile, in the trading on Friday (21/10), the price of palm oil closed higher by 0.22 percent or 6 points at the position of 2,724. In the meantime, the valuation of the Malaysian ringgit this morning is observed to have weakened by 0.08 percent to reach 4,1825 per US dollar at 10:17 WIB. As quoted by Bloomberg today, MIDF Research has maintained the positive review of the plantation sector and predicts the price of palm oil at a range of 2,500-3,000 ringgit per ton in the next three months along with the low supply of palm oil globally. The Malaysian research company also stated that plantation issuers can benefit slightly from the increase in exports and improvement of the quality of palm oil in the long term. Movement of CPO Contract Prices for January 2017

Date

Level

Change

24/10/2016(10:01 WIB)
2.743
+0,70%

21/10/2016

2.724

+0,22%

20/10/2016

2,718

-0,51%

19/10/2016

2.732

+0,66%

18/10/2016

2.714

-1,95%

Source: Bloomberg

Editor: Gita Arwana Cakti

23

Oct

Gradual Closure Of Sugar Factories

The nine sugar factories that will be closed are Rejosari, Kanigoro, and Purwodadi sugar factories in Madiun, then Toelangan and Watoetoelis sugar [...]

Gradual Closure Of Sugar Factories. The nine sugar factories that will be closed are Rejosari, Kanigoro, and Purwodadi sugar factories in Madiun, then Toelangan and Watoetoelis sugar factories in Sidoarjo, then Meritjan sugar factory in Kediri, and three sugar factories in Situbondo, i.e. Pandji sugar factory, Olean sugar factory, and Wringinanom sugar factory.
“So it is not true if the closure was done at once, it will still be carried out gradually,” said the President Director of PTPN XI, Dolly P Pulungan in Jember, East Java.
According to Dolly, the age of the factories that will be closed are averagely above 100 years old. “So averagely they are already old, but the closure could take three years, or even four years later, while we conduct the study,” he asserted.
The closed sugar factories, Dolly said, will not be just left alone, but their functions will be changed.
“For example in Situbondo Regency, there are three sugar factories that will be closed, so we will convert one factory into a fertilizer factory, and convert the other two into maintenance factories. If we have a workshop center, we will not have to cooperate with partners,” he asserted.
By changing the function of the sugar factories, it is hoped that there will be no mass rationalization of employees.
“They will still be employed, or we will cooperate with them as our partners. Those who are about to retire will still retire, so it is natural,” he said.
It was previously reported that the government through the Ministry of SOEs will close a number of sugar factories in East Java.
The reason is to regroup and increase efficiency of the SOEs. The sugar factories that will be closed are those under the management of PTPN IX, X, XI, and PT Rajawali Nusantara Indonesia (RNI).

Writer
: Jember Contributor, Ahmad Winarno

Editor
: M Fajar Marta

http://bisniskeuangan.kompas.com/read/2016/10/22/222026226/penutupan.pabrik.gula.akan.dilakukan.secara.bertahap

World Bank raises 2017 oil price forecast

21

Oct

World Bank raises 2017 oil price forecast

In its latest quarterly “Commodity Markets Outlook,” the Washington-based lender forecast that in 2017, the price of crude oil will average US$55 [...]

World Bank raises 2017 oil price forecast. In its latest quarterly “Commodity Markets Outlook,” the Washington-based lender forecast that in 2017, the price of crude oil will average US$55 a barrel, raising its July projection of $53. “We expect a solid increase in energy prices next year, led by oil,” said John Baffes, lead author of the report. However, he added, the forecast is subject to “significant uncertainty,” as markets await details and implementation of the OPEC agreement.The report said OPECs ability to influence the oil price is likely to be tested by expanding oil supply from non-OPEC sources, including the US shale industry.OPEC announced in late September its intention to cut output to 32.5 million barrels per day (bpd) from the current level of 33.24 million bpd, but the details will be discussed when members meet again in November in Vienna.Overall, energy prices, including oil, natural gas and coal, are projected to jump almost 25 percent next year, according to the report; metals and mineral prices are forecast to rise 4.1 percent next year while agricultural commodity prices are likely to expand by a modest 1.4 percent in 2017.“Low commodity prices have hit commodity exporters in developing and emerging market economies particularly hard, but now appear to be bottoming out,” said Ayhan Kose, director of the World Banks Development Prospects Group.     (A026/A011)
Editor: Unggul Tri Ratomohttp://www.antaranews.com/berita/591435/bank-dunia-naikkan-proyeksi-harga-minyak-2017

Officially Opened, the Largest Logistics Exhibition Aims to Bring a New Industry Perspective

19

Oct

Officially Opened, the Largest Logistics Exhibition Aims to Bring a New Industry Perspective

James Boey, General Manager Reed Panorama Exhibitions (RPE), expects the exhibition to create a new forum for regulators, logistics practitioners and [...]

Officially Opened, the Largest Logistics Exhibition Aims to Bring a New Industry Perspective. James Boey, General Manager Reed Panorama Exhibitions (RPE), expects the exhibition to create a new forum for regulators, logistics practitioners and supply chain industry, and bring in fresh perspectives for the industry.
`This event will be a platform that offers an integrated exhibition and a series of meetings and discussions to address current issues, providing solutions, and sharing ideas, as well as networking sessions,` James Boey said in a press release on Wednesday (Oct 19, 2016).
Heru Pambudi, Director General of Customs and Excise at the Finance Ministry, said the government would boost the growth of bonded logistics centers (PLB).
`The development of Bonded Logistics Centers is very important to reduce dwell time for a more efficient logistics cost and can make Indonesia a logistics hub in the Asia Pacific region,` Heru explained.
Indonesia has built 14 PLBs, Heru said, serving various sectors, such as oil and gas, mining, maintenance, repair and overhaul (MRO), automotive and pharmaceuticals.
Around 25 PLBs will be built soon, in collaboration with the associations and major players in the industry.
Rosan P. Roeslani, Chairman of the Indonesian Chamber of Commerce and Industry (KADIN), said that improved logistics could support and strengthen business relations.
`This exhibition and conference will be useful in providing the latest updates on developments and business opportunities in Indonesia, including the transportation, logistics and supply chain sectors,` Rosan said.
He said the JILSE and ITSCL exhibitions aimed to build networks for companies to make acquaintances and explore business opportunities across countries.
The event was opened by Coordinating Minister for the Economy Darmin Nasution, Finance Minister Sri Mulyani Indrawati and Trade Minister Enggartiasto Lukita.

Bengkulu's Coffee Among the Best Coffee in Indonesia

19

Oct

Bengkulu's Coffee Among the Best Coffee in Indonesia

“Kepahiang, Bengkulu Robusta coffee has been selected as one of the top 15 to be chosen as the top three best coffees in Indonesia,” said [...]

Bengkulu's Coffee Among the Best Coffee in Indonesia. “Kepahiang, Bengkulu Robusta coffee has been selected as one of the top 15 to be chosen as the top three best coffees in Indonesia,” said coffee activist from Bengkulu's Konakito Heri Supandi, Tuesday (10/18/2016).
AEKI AICE COFFE is a competition held by the Indonesian coffee exporters association. The AEKI AICE COFFEE Contest 2016 was judged by the best judges from 12 countries and the Bengkulu Robusta coffee with the trademark, “Ngupei Konakito” successfully convinced the 12 judges of the delicious and distinctive flavor of coffee from Bengkulu.
In addition, Bengkulu Robusta coffee also competed with Robusta coffee from Java and several regions in Sumatra, such as South Sumatra, Lampung, and Aceh to reach the top three positions.
The results of the judging and the contest winner will be announced on October 21-23, 2016, at the National Coffee Day in Takengon, Aceh Province. Participating in this prestigious competition is one of the ways to introduce Indonesia that Bengkulu coffee is also the best coffee that is worthy of being known by the international market.
“This is an effort to open up opportunities for Bengkulu coffee exports to become even greater and become the pride of the region,” said Heri.
Konakito coffee is known to have several variants of flavor that coffee lovers must try, such as Robusta Original, Traditional Robusta, Super Robusta, Semang Robusta, and Arabica.
Responding to this achievement, the Head of the Bengkulu Province's Cooperative UKM Industry and Trade Service (Diskop UKM Perindag) Ismed Lakoni stated that the government is ready to support coffee activists in introducing Bengkulu coffee to a global level.
“The provincial government is fully prepared to support the work of the young Bengkulu coffee activists who plan to hold a contest with the Indonesian coffee exporters association. (AEKI AICE COFFEE Contest 2016). We hope that next year, Bengkulu will be chosen as the host of the Nusantara Coffee Festival and the Commemoration of World Coffee Day,” concluded Ismed Lakoni.

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Writer
: Bengkulu contributor, Firmansyah

Editor
: Bambang Priyo Jatmik

http://bisniskeuangan.kompas.com/read/2016/10/19/061337526/kopi.asal.bengkulu.masuk.jajaran.kopi.terbaik.nasional

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