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India's CPO Imports to Increase, Surge in Price will Continue

17

Oct

India's CPO Imports to Increase, Surge in Price will Continue

At the close of trading on the Bursa Malaysia on Friday (14/10), the CPO price for the December 2016 most active contract rose by 47 points to reach [...]

India's CPO Imports to Increase, Surge in Price will Continue. At the close of trading on the Bursa Malaysia on Friday (14/10), the CPO price for the December 2016 most active contract rose by 47 points to reach 2,665 ringgit (US$632.64) per ton.
A Bloomberg survey revealed that CPO imports by the Hindustan nation are expected to increase by 2.1% to 800,000 tons in September. This number represents the first rise since April 2016.
Total imports of vegetable oil last month were predicted to reach 1.36 million tons, a 12% increase (month-on-month). Official import data from the Solvent Extractors’ Association (SEA) of India will be released in mid-October.
Nagaraj Meda, managing director of TransGraph Consulting, said that rebounding purchases of CPO by India, the world’s largest consumer, is helping prices to stay high even though they are being held back by recovery in production. The impact of dry weather caused by the El Nino previously disrupted the planting process in Indonesia and Malaysia in the early part of the year.
Demand from India normally increases during the Hindu festival from September to November, because people eat more fried food and sweets. The festival reaches its peak with Diwali on 30 October 2016.
`At present, the supply of vegetable oil is low, so imports must be increased in order to meet domestic demand,` said Meda, as quoted by Bloomberg on Sunday (16/10/2016).
According to the SEA, cooking oil stocks on 1 September reached only 2.06 million tons, significantly down compared to 1 January which reached 2.51 million tons. India meets its cooking oil requirements through imports of around 70%.
India's CPO supply comes from Indonesia and Malaysia, while it obtains soybean oil from the US, Brazil and Argentina.

Editor : Saeno

http://market.bisnis.com/read/20161016/94/592958/impor-india-diprediksi-naik-harga-cpo-bakal-lanjutkan-kenaikan

CPO PRICE OCT 17: Palm Oil Jumps Over 4% as Diwali Festival Nears

17

Oct

CPO PRICE OCT 17: Palm Oil Jumps Over 4% as Diwali Festival Nears

The CPO futures contract for December 2016, the most actively traded contract on Bursa Malaysia, was seen jumping 4.14% or 110 points to the level of [...]

CPO PRICE OCT 17: Palm Oil Jumps Over 4% as Diwali Festival Nears. The CPO futures contract for December 2016, the most actively traded contract on Bursa Malaysia, was seen jumping 4.14% or 110 points to the level of 2,770 ringgit per ton at 10.24 WIB, the highest level throughout the contract period.The price of palm oil previously opened up 3.27% or 87 points to the position of 2,747.
Meanwhile, the price of palm oil during the Friday (14/10/2016) trading closed with a sharp increase of 1.60% or 42 points to 2,660.
As reported by Bisnis.com, the import of palm oil or CPO from India is expected to increase for the first time in the past five months due to decreasing stock and increasing demand leading up to the festival. This sentiment provides positive momentum for the price of CPO.
The Bloomberg survey indicates that CPO import from Hindustan is expected to increase by 2.1% to 800,000 tons in September. This figure is the first increase since April 2016.
Nagaraj Meda, Managing Director of TransGraph Consulting, said that the rebound in CPO purchases from India as the world's largest consumer helps the price remain high despite being blocked by the recovery in production. The dry weather impact from El Nino previously disrupted the planting process in Indonesia and Malaysia in the beginning of the year.
Demand from India usually increases during the Hindu festival from September through November, as people consume more fried foods and sweets. The highlight of the celebration occurs during the Diwali Festival which falls on October 30, 2016.
Thomas Mielke, Executive Director of Oil World, said that in addition to India, absorption of CPO demand will also come from China. The number of palm oil stock in The Panda Country is currently considered low in the range of 350,000--400,000 tons.
`China must purchase CPO because its stock is quite low,` he said.
On the other hand, the exchange rate of the ringgit this morning was seen decreasing by 0.58% to 4.2192 per US dollar at 10.39 WIB, after opening down 0.32% in the position of 4.2080.
The Price Movement of CPO for the December 2016 Contract

Date

Level

Change

17/10/2016(10.24 WIB)
2.770
+4,14%

14/10/2016

2.660

+1,60%

13/10/2016

2.618

-1,32%

12/10/2016

2.653

+1,61%

11/10/2016

2.611

+2,71%

Source: Bloomberg
Editor: Linda Teti Silitonga
http://market.bisnis.com/read/20161017/94/593102/harga-cpo-17-oktober-festival-diwali-mendekat-minyak-sawit-melonjak-di-atas-4-persen

Chamber backs bid to revitalize Indonesian exports

17

Oct

Chamber backs bid to revitalize Indonesian exports

"This is a good opportunity to be used as a turning point, because our export has been declining for a long time. We are grateful that TEI 2016 can [...]

Chamber backs bid to revitalize Indonesian exports. `This is a good opportunity to be used as a turning point, because our export has been declining for a long time. We are grateful that TEI 2016 can be a momentum,` Handito Joewono, Chairman of the Export Development Committee of the Indonesian Chamber of Commerce and Industry, told ANTARA News in Jakarta, Sunday. It is known that the transaction value of TEI 2016 until Sunday (16/10) morning reached 974.76 million US dollars or Rp12.7 trillion, an increase of 7.2 percent compared to TEI last year which amounted to 909 million US dollars. In fact, the transaction value is expected to continue to grow. Handito said the momentum must be maintained and defended by all parties, both entrepreneurs and the government. In this regard, the Indonesian Chamber of Commerce and Industry will implement five export development strategies contained in the 500 percent export development roadmap in the next 10 to 15 years. First is the addition of new exporters ranging from large, medium to small businesses. `Small entrepreneurs should not be forgotten. Many of them already have export potential, but have not yet exported,` said Handito. The second is the addition of diversification of export products, where Handito sees fisheries and marine products having great potential to be developed. Furthermore, the development of the export market, by adding a new market or doing deeper market penetration. `In terms of penetration, we deepen the export destination in one country, for example adding export markets in other regions in that country. E-commerce can be utilized in this regard,` said Handito. Then, he continued, to increase the average price of export products, by increasing the added value of export products by downstreaming production to the final product. Lastly, namely improving the export ecosystem, where all Indonesian entrepreneurs are encouraged to have an export mindset. `Thus, we expect Indonesia to become a major export country,` concluded Handito.
Editor: Monalisa
http://www.antaranews.com/berita/590526/kadin-dukung-kebangkitan-ekspor-indonesia

Tocom Rubber Ends Oct. 13 _1 Percent Lower

13

Oct

Tocom Rubber Ends Oct. 13 _1 Percent Lower

The Japanese Yen currency is seen experiencing a strengthening. The USDJPY exchange rate has a -0.32 percent drop at 103.88. The increasing value of [...]

Tocom Rubber Ends Oct. 13 _1 Percent Lower. The Japanese Yen currency is seen experiencing a strengthening. The USDJPY exchange rate has a -0.32 percent drop at 103.88. The increasing value of the Japanese Yen currency is making commodity prices that are traded using this currency become relatively more expensive for foreign buyers. The impact is that the demand for this commodity has experienced a decrease.
The price of oil dropped on Thursday (13/10) in the Asian session, pressured by a rise in OPEC production and an increase in the crude inventory of the United States.
The price of the U.S. West Texas Intermediate (WTI) crude futures dropped 54 cents, or 1.08 percent, at $49.64 per barrel.
The International Brent crude oil futures price was traded at $51.37 per barrel at 0256 GMT, which is a 44 cents (or 0.85 percent) decrease from its previous closing.
See: Crude Oil Price Drops 1 Percent in the Asian Session
The drop in the price of crude oil is making the cost of producing synthetic rubber cheaper. The impact is that the demand for the natural rubber commodity, such as the one traded in Tocom, has decreased.

Crude Oil Prices Drop 1% as OPEC Output Surges

13

Oct

Crude Oil Prices Drop 1% as OPEC Output Surges

US West Texas Intermediate (WTI) futures crude closed down 61 cents or 1.2 percent, to $50.18 per barrel. Brent futures crude was down 56 cents, or [...]

Crude Oil Prices Drop 1% as OPEC Output Surges. Brent futures crude was down 56 cents, or 1.1 percent, at $51.85 a barrel at 2:38 p.m. (1838 GMT).
Officials from some of the world's biggest oil trading companies told the Reuters Commodities Summit in London that crude was unlikely to achieve supply-demand balance until well into 2017.
“I don't think they (OPEC) can make any substantial cuts. There are too many uncertain factors involved,” said Gunvor Group's Chief Executive Officer Torbjorn Tornqvist, adding that increasing Nigerian and Libyan output was enough to “wipe out any other deal that has been agreed on. “
Marco Dunand, CEO of Mercuria Energy Group Ltd, said prices could fall to the low $40s if OPEC failed to agree on a cut at the November meeting.
Doubts remain as to the intentions of major suppliers such as Saudi Arabia and Iran and the effectiveness of any agreement to rein in output from record highs.
The prospect of countries from OPEC and non-OPEC members such as Russia coordinating a production curb will support prices above the $50 mark, market participants have said since an initial agreement was struck at the end of last month.
Government officials from major oil producers, including Russia, are meeting in Istanbul this week to try to lay out further details of production cuts ahead of an official OPEC meeting in November.

CPO PRICE OCT 12: Malaysia Stocks Rise Almost 6%, Palm Oil Down

12

Oct

CPO PRICE OCT 12: Malaysia Stocks Rise Almost 6%, Palm Oil Down

The CPO futures contract for December 2016, the most active contract on the Bursa Malaysia, fell 0.11% or 3 points to 2,608 ringgit per ton at 09:53 [...]

CPO PRICE OCT 12: Malaysia Stocks Rise Almost 6%, Palm Oil Down. The CPO futures contract for December 2016, the most active contract on the Bursa Malaysia, fell 0.11% or 3 points to 2,608 ringgit per ton at 09:53 western Indonesia time.
The price of palm oil had previously opened lower by 0.15% or 4 points to a position of 2,607.
On yesterday’s trading (11/10), the price of palm oil closed having spiked by 2.71% or 69 points to 2,611, in line with the weakening performance of the Malaysian ringgit.
Meanwhile, the value of the ringgit this morning was monitored as having weakened by 0.20% to 4.1860 per US dollar at 10:08 western Indonesia time.
As quoted by Bloomberg, the volume of palm oil stock on the Malaysian Palm Oil Board has increased by 5.7% to 1.55 million tons in September, slightly more than the prediction of 1.51 million tons, primarily caused by a sharp decline in exports.
In September, the export volume dropped 20.4% to 1.45 million tons with the fall in exports to India, China, and the European Union being 40.3%, 33.9%, and 27.1% respectively, in line with the reduced competitive level of the price of palm oil (with regard to soybean oil).
Movement in the Price of CPO for the December 2016 Contract

Date

Level

Change

12/10/2016
(As of: 09:53 western Indonesia time)

2.608

-0.11%

11/10/2016

2.611

+2.71%

10/10/2016

2.542

-0.74%

7/10/2016

2.561

-0.70%

6/10/2016

2.579

+0.90%

Source: Bloomberg

Editor: Rustam Agus
http://market.bisnis.com/read/20161012/94/591750/harga-cpo-12-oktober-stok-malaysia-naik-hampir-6-sawit-melemah

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