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Palm Prices Fell Nearly 2 Percent on October 4 Hit by Weakness in Oil

04

Oct

Palm Prices Fell Nearly 2 Percent on October 4 Hit by Weakness in Oil

Oil prices dipped early on Tuesday, weighed down by a rise in Iranian exports that adds to a global supply overhang, although a planned OPEC-led [...]

Palm Prices Fell Nearly 2 Percent on October 4 Hit by Weakness in Oil. Oil prices dipped early on Tuesday, weighed down by a rise in Iranian exports that adds to a global supply overhang, although a planned OPEC-led supply cut later this year has lent crude some support.
U.S. West Texas Intermediate (WTI) crude futures were down 20 cents, or 0.41 percent, at $48.61 per barrel.
International Brent crude oil futures were trading at $50.77 per barrel, down 12 cents, or 0.24 percent, from their previous close.
See: Asian Oil Prices Pressured by Increased Iranian Exports
The decline in the price of crude oil has become a negative sentiment that has led to a downward trend in CPO prices. The weakening price of crude oil has reduced demand for alternative fuels like those made from CPO.
The most active CPO contract price at the Malaysian commodities exchange today showed a decline. The December 2016 contract, which is the most active, fell by -50 ringgit, or -1.9 percent, and traded at 2,586 ringgit per ton.
Analysts at Vibiz Research Center predict that going forward, the movement of CPO futures prices will track the price of crude oil which, if it continues to weaken, will put pressure on CPO prices. Price movements may also be affected by the movement of the ringgit and conditions of global demand and supply.
Freddy/VMN/VBN/Analyst-Vibiz Research Center
Editor: Asido Situmorang
Source: Freddy
http://ewfanalisa.tk/2016/10/04/harga-cpo-4-oktober-merosot-hampir-2-persen-tergerus-pelemahan-minyak/

CPO Price Oct 4: Ringgit Strengthens, Palm Oil Weakens

04

Oct

CPO Price Oct 4: Ringgit Strengthens, Palm Oil Weakens

The December 2016 CPO futures contract, the most active contract on Bursa Malaysia, weakened 1.75 percent or 46 points to RM2,590 (US$628.30) per ton [...]

CPO Price Oct 4: Ringgit Strengthens, Palm Oil Weakens. The December 2016 CPO futures contract, the most active contract on Bursa Malaysia, weakened 1.75 percent or 46 points to RM2,590 (US$628.30) per ton at 10:40 WIB.
Meanwhile, the ringgit exchange rate was seen to strengthen 0.24 percent to 4.1243 at 10:54 WIB. However, the ringgit strengthening was held back by the surge in the US dollar.
At 10:46 WIB, the US dollar index strengthened 0.2 percent or 0.194 points to 95.889. This figure is the highest level since 20 September 2016.
Not long ago, Dorab Mistry, Executive with Godrej International Ltd., explained that the CPO price could decrease to RM2,200 per ton in November 2016. The main influencing factor is the recovery in production following the correction since the beginning of the year due to hot weather.
Palm oil, which is used for various needs ranging from food to cosmetics and fuel, re-entered a bullish period in August following a decline in supply in Indonesia and Malaysia. This is because the drought resulting from El Niño has affected the planting process.
Supply in Malaysia declined to its lowest level in the last five years last month, namely 1.46 million tons. According to data from the Malaysian Palm Oil Council (MPOC), in addition to production problems, the decline in supply is also triggered by an increase in exports.
Meanwhile, Mistry continued, supply in Indonesia plunged to 1.6 million tons in August. This figure is far below the highest point of 5 million tons in November 2015.
`However, production has now rebounded so that the price will be burdened. Even next year, the market should be prepared for a further increase in production,` he said.
Nevertheless, the decline in CPO production throughout the current year has been far more severe than the estimates of some circles. This is seen as surprising enough for the market.

Editor : Bunga Citra Arum Nursyifani

http://market.bisnis.com/read/20161004/94/589255/harga-cpo-4-oktober-ringgit-menguat-sawit-melemah

Iran Urges OPEC to Decide on Oil Price Rise

04

Oct

Iran Urges OPEC to Decide on Oil Price Rise

The Organization of the Petroleum Exporting Countries (OPEC) should hold "serious talks" with non-OPEC producers in order to raise and stabilize the [...]

Iran Urges OPEC to Decide on Oil Price Rise. The Organization of the Petroleum Exporting Countries (OPEC) should hold `serious talks` with non-OPEC producers in order to raise and stabilize the price of oil in the international market, Rouhani was quoted as saying by Press TV, reported Xinhua.
`Efforts should be made so that the expert committee would make a decision on increasing the global oil price in the November OPEC meeting,` the Iranian president said in a telephone conversation with Venezuelan President Nicolas Maduro on Monday (3/10/2016).
On Wednesday (28/9/2016), OPEC member countries agreed during an extraordinary meeting in Algeria to cut crude production by 750,000 barrels per day in a bid to lift crude prices.
Oil prices reversed early losses to end higher in Asia on Tuesday morning, as Irans leader called on other oil producers to join OPEC in supporting the crude market.
West Texas Intermediate (WTI) crude for November delivery added 0.57 US dollar to settle at 48.81 US dollars a barrel on the New York Mercantile Exchange.
Meanwhile, Brent crude for December delivery increased 0.70 US dollar to close at 50.89 US dollars a barrel on the London ICE Futures Exchange.

Source : Antara  Editor   : M. Syahran W. Lubis

http://market.bisnis.com/read/20161004/94/589184/iran-serukan-opec-putuskan-kenaikan-harga-minyak

Indonesia aims to become a global exporter of roasted coffee

03

Oct

Indonesia aims to become a global exporter of roasted coffee

“For this reason, the development of this industry is to be done through measures among which is the increase in the added value of coffee [...]

Indonesia aims to become a global exporter of roasted coffee. “For this reason, the development of this industry is to be done through measures among which is the increase in the added value of coffee beans and the quality of processed coffee, especially roasted beans, through the mastery of roasting technology,” General Director for Industrial Agro at the Ministry of Industry Panggah Susanto stated in a press release received in Jakarta on Monday.Panggah added that additional efforts must be made, such as improving the capacity of human resources such as baristas, roasters, and taste testers (cuppers).The Ministry of Industry is said to be committed to stimulating the development of the coffee-processing industry in the country through various strategic programs and policies.According to the National Industrial Development Master Plan 2015-2035, the coffee processing industry is one of the priority sectors.To this end, the government will continue to create a climate that is conducive for the coffee processing industry through fiscal and non-fiscal policies, as well as the application of standards.“The coffee processing industry is expected to be able to diversify its coffee products. In addition to being utilized as a drink, it must be developed into other types of products, such as cosmetics, pharmaceuticals, and food flavors,” Panggah explained.He added that the continuation of the value chain from farmers, industry, to retail service providers and cafes must be improved so as to enhance its contribution to the national economy.According to data from the Ministry of Industry, Indonesia's coffee-bean export earnings reached US$356.79 million in 2015, or an 8-percent increase compared to the previous year.“Exports of processed coffee products are dominated by instant coffee, extract, essence, and coffee concentrates that go mainly to ASEAN, China, and the UAE,” Panggah stated.Meanwhile, the value of imports for processed coffee products reached US$106.39 million in 2015, or around 4 percent higher than the previous year. The importing countries were Malaysia, Brazil, India, Vietnam, Italy, and the US.“Despite this, the trade balance for processed coffee products still registered a surplus of US$250.40 million,” Panggah said.
Editor: Unggul Tri Ratomo
http://www.antaranews.com/berita/587997/indonesia-ditargetkan-jadi-eksportir-kopi-sangrai-dunia?utm_source=topnews&utm_medium=home&utm_campaign=news

Rubber prices up 1 on opening, eases later

29

Sep

Rubber prices up 1 on opening, eases later

The price of rubber for March 2017 delivery, the most active contract on the Tokyo Commodity Exchange, jumped 1.03 percent or 1.70 points to 166.30 [...]

Rubber prices up 1 on opening, eases later. The price of rubber for March 2017 delivery, the most active contract on the Tokyo Commodity Exchange, jumped 1.03 percent or 1.70 points to 166.30 yen per kilogram (kg) at 07:57 WIB.
Previously, the rubber price for the March contract opened slightly lower by 0.06 percent at 164.50 yen per kg.
At the same time, the yen exchange rate was seen weakening 0.45 percent or 0.45 points to 101.14 against the US dollar at 08:02 WIB after opening stagnant at 100.69.
Meanwhile in yesterday’s trading (Wednesday, 28/9), the price of the March rubber contract closed with a slight increase of 0.06 percent to 164.60 along with a decline in rubber stocks in China and Japan.
“A decline in rubber stocks in China and Japan has supported the strengthening price of the rubber commodity,” said Naohiro Nimura, partner at Market Risk Advisory, as quoted by Bloomberg.
Movement in Rubber Prices for the March 2017 Contract on the TOCOM

Date
Price (Yen/Kg)
Change

29/8/2016(07:57 WIB)
166.30
+1.03%

28/9/2016
164.60
+0.06%

27/9/2016
164.50
-

Source: Bloomberg (djk)http://www.bumn.go.id

Telkom Supports Business Transformation of PTPN Holding Towards World-Class Plantation Company

29

Sep

Telkom Supports Business Transformation of PTPN Holding Towards World-Class Plantation Company

The commitment was proven with the kick-off for the service management implementation of the enterprise resources planning (ERP) SAP PTPN Agro [...]

Telkom Supports Business Transformation of PTPN Holding Towards World-Class Plantation Company. The commitment was proven with the kick-off for the service management implementation of the enterprise resources planning (ERP) SAP PTPN Agro Industry Management System at the PTPN Plantation Training Institute (LPP) Office, Yogyakarta, on Friday (September 23).The kick-off was carried out by Telkomsigma President Director Judi Achmadi who represented Telkom’s Enterprise & Business Service Director and PTPN III Managing Director Elia Massa Manik, witnessed by all PTPN Holding Directors and Commissioners and other Telkom representatives.Judi Achmadi said that by implementing ERP at PTPN, Telkom delivered a complete SAP ERP module needed both by the front end of the plantation industry and the back end module. "In the agro industry, a benchmark in the private plantation industry has been used which has implemented ERP, so implementing ERP is a must to improve the company’s competitive position in the industry," he said.Judi Achmad conveyed some best practices and benefits of ERP implementation in some companies in the BUMN and private scopes that were delivered by Telkom in this opportunity."Telkom hopes that by successfully implementing ERP, PTPN will grow faster and become a leading global company based on agro industry and give a contribution to the national and regional economic growth through operational activities and sustainable development," said Judi.This BUMN synergy between Telkom and PTPN is aligned with BUMN Minister Rini Soemarno’s direction to improve the productivity of BUMN Plantation. By implementing ERP, PTPN as a BUMN in the plantation industry can improve the process efficiency and integration of business processes. The productivity increases because it is supported by data which is accurately integrated, on time, and improves the quality and accuracy of internal and external reporting.Through ERP, Telkom supports system restructuring in PTPN by implementing technology related to goods and services procurement, so it is expected to achieve efficiency and transparency from upstream to downstream which will have an impact on PTPN’s maximum productivity in three years.http://ekonomi.metrotvnews.com/mikro/eN4vg81k-telkom-dukung-transformasi-bisnis-ptpn-holding-menuju-bumn-perkebunan-kelas-dunia

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