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Tocom Rubber Futures Close Higher on Weekend, Up 6% on Week

21

Mar

Tocom Rubber Futures Close Higher on Weekend, Up 6% on Week

The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery finished 3.3 yen or 1.9% higher at 178.9 yen (US$1.61) per kg, after [...]

Tocom Rubber Futures Close Higher on Weekend, Up 6% on Week. The Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery finished 3.3 yen or 1.9% higher at 178.9 yen (US$1.61) per kg, after retreating from a high of 181.5 yen, the highest since March 7.
U.S. oil futures touched new highs for 2016 on Friday and were set to post gains for a fifth straight week on growing optimism that major producers would strike a deal to freeze output, while a more benign interest rate environment also supported prices.
See: Tocom Rubber Prices Strengthened by Rising Crude Oil
The dollar held near a 17-month low of 110.67 yen struck overnight as the Fed’s less hawkish outlook for U.S. interest rates weighed on the U.S. currency.
The Nikkei share average fell for a fourth day on Friday, after the dollar plunged to a near 17-month low overnight, pressuring exporters and dented overall sentiment.
Singapore rubber futures for August delivery were up 0.4 percent at 133.70 U.S. cents a kg on Monday. 
Vibiz Research Center analyst predicts that Tocom rubber price movement in subsequent trading still has the potential to weaken with the potential decline in crude oil prices. Also need to be observed is the potential strengthening of the Yen that could weaken Tocom rubber prices.
For today's trading session price is expected to meet Support at position 174.00 yen. Subsequent Resistance is at 169.00 yen. In the meantime, if the price rebounds will meet Resistance at position 184.00 yen and 189.00 yen.  
Editor: Asido Situmorang
http://vibiznews.com/2016/03/21/tocom-rubber-prices-end-the-week-higher-on-a-weekly-basis-recording-a-6-percent-gain/

CPO Prices Moved Positively, Assisted by a Weakening Ringgit

21

Mar

CPO Prices Moved Positively, Assisted by a Weakening Ringgit

This afternoon, the US dollar strengthened against the Ringgit. The US dollar-Malaysia Ringgit pair was observed rising 0.52% to 4.0720. The weakened [...]

CPO Prices Moved Positively, Assisted by a Weakening Ringgit. This afternoon, the US dollar strengthened against the Ringgit. The US dollar-Malaysia Ringgit pair was observed rising 0.52% to 4.0720. The weakened Ringgit has made commodity prices traded in that currency relatively cheaper for overseas buyers, thus increasing their demand. The price of the most active CPO contract on the Malaysia commodity exchange today is seen to be increasing. The price of the June 2016 contract, which is the most active contract, strengthened by 14 Ringgit and traded at 2.693 Ringgit per ton. See: CPO Price Strengthens Bolstered by the Weakened Ringgit and Increased Crude Oil An analyst at the Vibiz Research Center predicts that the price movement of future CPOs in subsequent trades has the potential to strengthen due to the potential for the Ringgit to weaken with the strengthening of the US dollar. The price of the June 2016 CPO futures contract on the Malaysian commodity exchange has the potential to test the Resistance level at 2.740 Ringgit and 2.790 Ringgit. Meanwhile, the Support level that will be tested if the price decreases is at 2.640 Ringgit and 2.590 Ringgit. Editor: Asido Situmorang

RUBBER PRICES MARCH 17: Fed Lifts The Commodity, Rubber Continues To Rise

17

Mar

RUBBER PRICES MARCH 17: Fed Lifts The Commodity, Rubber Continues To Rise

The commodity rose 2,40% or 4,10 points to 174,60 yen per kilogram (kg) or Rp20.380,28 per kg, marking the biggest increase since March 7. Earlier, [...]

RUBBER PRICES MARCH 17: Fed Lifts The Commodity, Rubber Continues To Rise. The commodity rose 2,40% or 4,10 points to 174,60 yen per kilogram (kg) or Rp20.380,28 per kg, marking the biggest increase since March 7. Earlier, rubber had opened higher by 0,23% at 170,90 yen per kg.
Commodity Broker Analyst at Yutaka Shoji Co, Gu Jiong, said the market sentiment was positive after the FOMC meeting, leading to gains in equities and the commodity market.
“The rising oil prices were also supportive,” he said as quoted by Bloomberg.
It was recorded that May contract West Texas Intermediate (WTI) was traded 1,32% higher to US$40,53 per barrel at 10.07 WIB after opening 0,15% higher at US$40,06 per barrel.
Meanwhile, May contract Brent rose 0,74% to US$40,63 per barrel at 10.08 WIB after opening also 0,30% higher at US$40,45 per barrel.
The Rubber Authority of Thailand on its site stated that the rubber prices could continue its rising trend because of decreased supply during the low production season.
Thailand still remains the largest producer and exporter, while Cina is the largest consumer of rubber.
Movement of Rubber Price in TOCOM August 2016 Contract

Date

Price (Yen/Kg)

Change

March 17th 2016 (10.41 WIB)

174,60

+2,40%

March 16th 2016

170,50

+1,67%

March 15th 2016

167,70

-2,27%

March 14th 2016

171,60

+1,60

March 11th 2016

168,90

-1,46%

Source: Bloomberghttp://market.bisnis.com/read/20160317/94/528935/harga-karet-17-maret-fed-dorong-komoditas-karet-lanjut-naik

CPO PRICE MARCH 17: Strengthen Along with Oil, El Nino to Suppress Production Through Third Quarter 2016

17

Mar

CPO PRICE MARCH 17: Strengthen Along with Oil, El Nino to Suppress Production Through Third Quarter 2016

The CPO futures contract for June 2016, the most active contract traded on Bursa Malaysia, opened 0.23% lower at 2,605 ringgit per ton. However, the [...]

CPO PRICE MARCH 17: Strengthen Along with Oil, El Nino to Suppress Production Through Third Quarter 2016. The CPO futures contract for June 2016, the most active contract traded on Bursa Malaysia, opened 0.23% lower at 2,605 ringgit per ton.
However, the commodity immediately started to rise and gained 0.88% to 2,634 ringgit or Rp 8.45 million per ton as of 10:58 WIB. CPO contracts have strengthened for 3 consecutive days.
The price of CPO increased significantly with the sharp upturn in crude oil prices. Brent oil prices strengthened 0.87% to US$ 40.68 per barrel as of 11:03 WIB after closing up 4.1% yesterday.
BMI Research has increased its average CPO price projection for 2016 from 2,350 ringgit to 2,500 ringgit per ton, taking into consideration the El Nino phenomenon which has caused a greater impact than previously expected.
“Southeast Asia has experienced lower than average rainfall since January and is expected to continue until the end of March. This will reduce palm oil production to the third quarter of 2016,” said BMI Research.
Movement in the June 2016 CPO Contract Price

Date

Level

Change

17/3/2016(10.58 WIB)
2.634
+0.88%

16/3/2016

2.611

+0.04%

15/3/2016

2.610

+0.81%

14/3/2016

2.589

-0.50%

11/3/2016

2.602

+2.48%

Source: Bloomberghttp://market.bisnis.com/read/20160317/94/528952/harga-cpo-17-maret-menguat-bersama-minyak-el-nino-tekan-produksi-hingga-kuartal-iii2016

17

Mar

SOE Ministry: SOE Law must be revised

"The regulation of State-Owned Enterprises (BUMNs) do need to be revised and steered in line with the mandate of the 1945 Constitution, as an effort [...]

SOE Ministry: SOE Law must be revised. `The regulation of State-Owned Enterprises (BUMNs) do need to be revised and steered in line with the mandate of the 1945 Constitution, as an effort to create prosperity for the entire Indonesian society,` said Deputy for Mining, Strategic Industry, and Media sector, Ministry of State-Owned Enterprises, Fajar Harry Sampurno in Jakarta, Wednesday. Fajar made this statement in response to the assertion that state-owned companies have not been given the appropriate constitutional portion as a business entity that is, for the most part, utilized to benefit the entire Indonesian people. However, according to Fajar, BUMNs still can not be steered fully to control all of Indonesia's natural resources because not all commodities are considered to fall into the category of public necessities. `There should not be such an obligation, since it would become a monopoly. So do not generalize the BUMNs that do indeed manage public necessities and those that should be able to compete,` he said. Fajar explained that BUMNs that have the right to monopolize are those that manage public necessities, such as PT PLN, Bulog, PDAM, and the oil and gas sector. Meanwhile for minerals, he asserted that these commodities are free to be managed by anyone. `This is because the mineral and coal sector do not directly impact the livelihoods of many people, only a few,` he said. Previously, constitutional law expert Irmanputra Sidin assessed that state-owned business entities have not received the appropriate constitutional portion as a state business entity. `Law Number 19 of 2003 concerning BUMNs directly emphasizes that BUMNs are one of the actors in economic activity based on economic democracy; this is not quite right,` Irman said in the DPR/MPR RI Building in Jakarta, Tuesday (15/3). According to him, the law has inadvertently degraded BUMNs that are in fact business entities in the name of the people's sovereignty and the representation of the state, thus situating them on the same footing as both domestic and foreign private companies. `Economic democracy is a subtle form of compromise and the state's powerlessness vis-a-vis free market forces,` he said. Irman added that the constitution mandates that the earth, water, and the wealth contained therein must be fully controlled by the state, for the greatest possible prosperity of the people. This is in fact the genesis of the BUMNs, which were established to enable the state to prosper its people.`We must recognize that BUMNs were not born of economic democracy, nor are they subject to the desires of the free market. That is what has led BUMNs to become indistinguishable from private business entities serving private interests. How can it be possible that the state-owned business entity must compete for objects of business operations with the private sector? It is clear that this object falls under the category of production branches of state power,` he said.
Editor: Tasrief Tarmizihttp://www.antaranews.com/berita/550437/kementerian-bumn-uu-bumn-memang-harus-diperbaiki

Coordinating Minister for Economic Affairs: Palm oil production results improved

17

Mar

Coordinating Minister for Economic Affairs: Palm oil production results improved

"In 2015, the palm oil (CPO) plantation in Indonesia reached qq million hectares with total production of 32 million tons. Out of those numbers, 45 [...]

Coordinating Minister for Economic Affairs: Palm oil production results improved. `In 2015, the palm oil (CPO) plantation in Indonesia reached qq million hectares with total production of 32 million tons. Out of those numbers, 45 percent are owned by farmers, while the rest are owned by corporations and state-owned enterprises (SOEs),` Darmin said at the opening of an `International Conference on Palm Oil and the Environment` in Nusa Dua, Bali, on Wednesday. He said that private plantations and SOEs had a vital role to play in assisting the small farmers. Large businesses had better access to markets and negotiating power on the international market. `Therefore, private palm oil plantations and SOEs must not close their eyes to the small farmers,` Darmin said. According to him, stronger companies must be able to seek long-term solutions (solutions) to improve the sustainable practices of farmers and work with the government to promote good and sustainable plantation practices. `Therefore, we want to prioritize the issue of disaster prevention this year. A lot of focus and aid are given to issues with mid- to long-term impacts. However, in the short term, we must prioritize preventing the recurrence of forest fires,` he said. Coordinating Minister of Economic Affairs Darwin expressed his appreciation for the three groups representing the main stakeholders in the palm oil sector, i.e., the private sector represented by PT SMART Tbk, researchers represented by CIRAD, and environmental NGOs represented by WWF. Chairman of the `International Conference on Palm Oil and the Environment 2016` Steering Committee Daud Dharsono said that climate change is ongoing and is happening now.  He said that all stakeholders, scientists and practitioners, NGOs and government agencies, independent farmers, and the plantation industry, must work together to develop potential and practical options to take climate change mitigation and adaptation measures. `With the collective knowledge and expertise of all stakeholders, we believe that we can obtain scientific solutions to cope with climate change to be applied across the palm oil industry,` he said.
Editor: Ruslan Burhanihttp://www.antaranews.com/berita/550427/menko-perekonomian-hasil-produksi-perkebunan-sawit-membaik

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