Latest News: Page 107

09

Feb

CPO prices predicted to continue rising

Quoting Bloomberg, Friday (5/2) the CPO price for the April 2016 delivery contract at Malaysia Derivative Exchange increased 1.93% to RM 2,580 per [...]

CPO prices predicted to continue rising. Quoting Bloomberg, Friday (5/2) the CPO price for the April 2016 delivery contract at Malaysia Derivative Exchange increased 1.93% to RM 2,580 per metric ton or equivalent to US$ 600.50 per metric ton. In fact, the CPO price has increased 5.60% in the past week.  "So compared to other commodity prices, the CPO price has a better projection,” said Wahyu Tri Wibowo, Analyst at Central Capital Futures. Indeed, this CPO price increase continues to occur amidst slow erosion of other commodity prices. Wahyu suspects there is a chance that the price will continue to climb at least around 20% in 2016. `If the price stays at around RM 2,400 - RM 2,700 per metric ton, then the trend will continue to be bullish," predicted Wahyu. Wahyu's prediction is in line with BMI Research's statement, which suspects that the CPO price could remain in the range of RM 2,700 per metric ton in the next three months. CIMB suspects that the price will increase around 14% on average in 2016 at the level of US$ 2,450 per metric ton.
Meanwhile, Marcello Cultrera, Dealer at Oriental Pacific Futures Sdn in Kuala Lumpur, suspects that the CPO price could move in the range of RM 2,600 - RM 2,700 per metric ton throughout February – March 2016. "The chance of the price continuing to climb at least until the end of the first quarter of 2016 is still wide open," stated Deddy Yusuf Siregar, Research and Analyst at PT Asia Tradepoint Futures. At least Deddy suspects the price will be in the range of RM 2,600 - RM 2,670 per metric ton until the end of the first quarter.
Reporter Namira Daufina/Kontan

Editor: Choirul Arifin
Source: Kontan

http://www.tribunnews.com/bisnis/2016/02/08/harga-cpo-diprediksi-masih-akan-terus-naik

Trade minister urges France to cancel progressive palm oil tax

09

Feb

Trade minister urges France to cancel progressive palm oil tax

The French Parliament plans to gradually increase palm oil taxes starting next year. The tax is stipulated in Amendment No. 367 as adopted by the [...]

Trade minister urges France to cancel progressive palm oil tax. The French Parliament plans to gradually increase palm oil taxes starting next year. The tax is stipulated in Amendment No. 367 as adopted by the French Upper Legislative Assembly on 21 January 2016. In the Trade Ministry’s press release, Friday (5/2/2016), Thomas sent a letter specifically to the French Government. According to him, the palm oil tax is seen as violating the principles of the World Trade Organization (WTO) and the 1994 General Agreement on Tariffs and Trade (GATT). The violation will create price discrimination and will harm Indonesia. According to Thomas, if the plan is materialized, the price of Indonesian palm oil will not be competitive. Ultimately, the food industry in France and the European Union countries will replace palm oil with other vegetable oils at lower prices. “I am asking the French Government to not adopt Amendment No. 367. I am asking the French Government to cooperate with Indonesia to address the problems in France that are related to palm oil,” said Thomas Lembong. Palm oil is one of the strategic commodities in the Indonesian economy. Directly and indirectly, the palm oil sector employs 16 million workers in Indonesia and contributes 1.6 percent to Indonesia’s gross domestic product (GDP). Around 61 cities in Indonesia, including small cities, make a living from the palm oil sector. Moreover, Indonesia’s export revenues from this commodity reach around 19 billion US dollars per year. According to Thomas, if the amendment applies because of environmental factors, this step is also not right. This is because Indonesia has taken a sustainable palm oil policy (Indonesian Sustainable Palm Oil/ISPO). The ISPO ensures that the palm oil is produced in an environmentally friendly manner and does not contribute to deforestation and climate change. Not only that, the Indonesian palm oil industry also participates in the Roundtable on Sustainable Palm Oil (RSPO) to ensure that Indonesia’s palm oil is produced in accordance with sustainability standards. Meanwhile, if related to health issues, Thomas confirms that it is not right. The latest study shows that the consumption of saturated fatty acids from palm oil does not increase the risk of cardiovascular disease. “If there are regulations related to saturated fat consumption, then it must target all food products that contain saturated fat, whether it is palm oil, other vegetable oils or animal fats,” added Thomas.

Author
: Aprillia Ika

Editor
: Aprillia Ika

http://bisniskeuangan.kompas.com/read/2016/02/05/160558826/Mendag.Minta.Perancis.Batalkan.Pajak.Progresif.Sawit

France Impposes Tax on CPO Import, Indonesia Set to Retaliate with High Import Duties

05

Feb

France Impposes Tax on CPO Import, Indonesia Set to Retaliate with High Import Duties

“We force the French who have business interests in Indonesia to be our lobbyists,” said Drajad, in Jakarta, Thursday (2/4/2016). Drajad [...]

France Impposes Tax on CPO Import, Indonesia Set to Retaliate with High Import Duties. “We force the French who have business interests in Indonesia to be our lobbyists,” said Drajad, in Jakarta, Thursday (2/4/2016).
Drajad further explained that France is indeed known to be very protective of its agricultural products and some other production sectors. Because of that, according to Drajad, the Indonesian Government should be firm in facing them.
“Make our position equal to theirs, don't act as if we are begging and asking,” said Drajad.

Meanwhile, the Indonesian Palm Oil Farmers' Association (APKASINDO) believes that the French Government has created a new colonization through regressive taxes.
APKASINDO General Chairman, Anizar Simanjuntak said that the imposition of this regressive tax is unreasonable. The reason being, this tax is considered a form of neocolonialism or a new style of colonization.
“This is neocolonialism in the form of trade competition, so that our CPO will be more expensive than the vegetable oil that is produced by France,” said Anizar.
Because of that, Anizar urged the government to hold negotiations with the French government to cancel the regressive tax levy. The reason being, this new tax regulation has really detrimental impacts on palm oil farmers in Indonesia.
“If the regulation is not cancelled, we palm oil farmers are ready to take the streets to voice our aspirations at the French embassy in Indonesia,” said Anizar.

Writer: Adiatmaputra Fajar Pratama
Editor: Choirul Arifin

http://www.tribunnews.com/bisnis/2016/02/04/prancis-pajaki-impor-cpo-indonesia-siap-balas-dengan-bea-masuk-tinggi

Rubber-producing countries agree to cut exports in 2016

05

Feb

Rubber-producing countries agree to cut exports in 2016

The Secretary of the Indonesian Rubber Producer Association (Gapkindo) for North Sumatra, Edy Irwansyah, in Medan on Thursday, said that the [...]

Rubber-producing countries agree to cut exports in 2016. The Secretary of the Indonesian Rubber Producer Association (Gapkindo) for North Sumatra, Edy Irwansyah, in Medan on Thursday, said that the agreement was made during a meeting between leading rubber producer countries, namely Indonesia, Malaysia, Thailand and Vietnam, who has just become a new member.`At the end of the ITRC meeting in January 2016, it was finally agreed to reduce exports by a total of 615,000 tons in 2016,` he said.However, he admitted not yet knowing the details on how much each country would cut down their exports.`We will ask the central office for more details later. What is clear is that Gapkindo North Sumatra is ready to support the government program,` he said.Edy said that the implementation of the export cuts had changed from the previous schedule for February.The ITRC had agreed to implement rubber export cuts in from March for the next six months or until August 2016.`Rubber producer countries are hoping that this export cut triggers a price increase,` he said.Edy explained that this export cut agreement was the fourth such agreement, with the aim of preventing further declines in rubber prices.The ITRC had last agreed on an export cut in October 2012, for a duration of six months until March 2013.Since that agreement, rubber prices have increased to US$3.03 per kg from a previous low of US$2.6 per kg.`We hope that in 2016 rubber prices will rise from the current level of around US$1.07 per kg for February 2016 shipments,` he said.The decline in rubber prices has been caused by weak demand from major importer countries, a result of the global crisis and declining crude oil prices.
Editor: B Kunto Wibisono
http://www.antaranews.com/berita/543795/negara-produsen-karet-sepakat-kurangi-ekspor-2016

ITRC agrees to cut natural rubber exports

04

Feb

ITRC agrees to cut natural rubber exports

The Acting Director General of Foreign Trade at the Trade Ministry, Karyanto Suprih, explained in Jakarta on Thursday that member countries of the [...]

ITRC agrees to cut natural rubber exports. The Acting Director General of Foreign Trade at the Trade Ministry, Karyanto Suprih, explained in Jakarta on Thursday that member countries of the ITRC consisting of Indonesia, Thailand, and Malaysia have agreed to reduce their exports of natural rubber entering the Agreed Export Tonnage Scheme (AETS) with allocations of 324,005 tons for Thailand, 238,736 tons for Indonesia, and 52,259 tons for Malaysia.According to Karyanto, the price of natural rubber, which is currently at US$1.09 per kilogram, will impact rubber farmers, and the implementation of the AETS is expected to support prices at a level that is fair for farmers.He said, `Export reduction will cause the global stock of natural rubber to be absorbed by the market. The supply of natural rubber on the global market will decline further due to the decline in production of natural rubber in producing countries because of the low price of the commodity.`Karyanto explained to other natural rubber producing countries such as Vietnam that ITRC members will continue to communicate in order to build a strategic partnership.He said, `We have made calculations regarding whether or not Vietnam will participate in the export reduction. If it does, it will be approximately 85 thousand tons.`He said that along with the export reduction, absorption of natural rubber domestically is expected to increase.The government is striving to increase domestic absorption of natural rubber, among other things by implementing road construction projects and dock fenders at ports.The Director of Exports of Agricultural and Forestry Products at the Trade Ministry, Nurlaila Nur Muhammad, said that the government is preparing the legal basis to encourage increased absorption of natural rubber in domestic construction projects.She said, `Initially the instrument that would be used would be a presidential instruction (Inpres), but that would take a long time. So the suggestion from the Coordinating Minister of the Economy is that we will focus on road construction and the dock fender industry so that things can proceed quickly.`Nurlaila added that the regulation is still being completed and may take the form of a Joint Decree between the Minister of Public Works and Public Housing, the Minister of Transportation, and the Minister of Industry.`Until now, there has not been any (absorption of natural rubber for government projects) because the presidential instruction has not come out, and its drafting is taking a long time. In the near future, it will be completed; the Minister of Trade will send a letter to the Coordinating Minister of the Economy,` she said.The efforts to reduce this supply are a follow-up to the meeting of the ITRC Ministerial Council on December 3, 2015, which was then continued at a meeting of senior officials in January 2016.In Indonesia, the Indonesian Rubber Industry Association (Gapkindo) will become the implementer of the natural rubber export reduction in the framework of the AETS in the private sector.
Editor: Maryatihttp://www.antaranews.com/berita/543667/itrc-sepakat-kurangi-ekspor-karet-alam

Rizal Ramli: Palm Oil Tax Plan Shows Arrogance of France

04

Feb

Rizal Ramli: Palm Oil Tax Plan Shows Arrogance of France

"The policy plan demonstrates exceptional arrogance and is not reasonable," If France continues to demand to implement progressive tax on CPO [...]

Rizal Ramli: Palm Oil Tax Plan Shows Arrogance of France. `The policy plan demonstrates exceptional arrogance and is not reasonable,` If France continues to demand to implement progressive tax on CPO imports, it could damage the countries’ relationship, which has been developing very well and has been amicable since Indonesia's independence,` he said through a press release received in Jakarta, Wednesday. The plan to set taxes is outlined in a draft amendment to Act No. 367 regarding Biodiversity decided upon by the French senate on January 21, 2016. In the bill, progressive taxes are added for palm oil production, which will begin to be applied in 2017.  The details of the plan are: a tax of 300 euro/ton in 2017, 500 euro/ton in 2018, and 700 euro/ton for 2019. The tax goes up again to 900 euro/ton in 2020. After 2020, the tax will be determined by the French Minister of Finance.  Specifically for palm oil used in food products, the bill sets out additional duties of 3.8 percent. While for kernel oil that is utilized for food products, additional duties of 4.6 percent will be applied.  Strangely enough, the tax will not be imposed on canola seeds, sunflowers, soybeans, or vegetable oils produced in France.  Rizal, who is also the Board of Directors of the Council of Palm Oil Producing Countries (CPOPC), said that the CPO tax amendment demonstrates a discriminatory move against Indonesian products as the largest palm oil producer.  In fact, current CPO import taxes in France are at 103 euros per ton.  With a tax increase of 300 euros or around 430 US dollars per ton, it will certainly kill palm oil farmers and Indonesian CPO producers.  `France’s exaggeratedly unfriendly attitude is clear and has the deliberate strategy of killing Indonesia’s palm oil industry,` he said. Rizal added that the plan will kill the livelihoods of 2 million small Indonesian palm oil farmers with land areas of less than 2 hectares and 400,000 small Malaysian palm oil farmers.  `Please be aware that our palm oil industry employs 16 million people and generates exports valued at 19 billion US dollars,` he said. According to the Minister of Finance for former President Abdurrahman Wahid, the plan to impose progressive taxes on CPO imports is seen as conflicting with the basic principles of the French people, which are `liberty, equality, fraternity` (freedom, equality, and brotherhood), particularly aspects of equality and brotherhood.  With these basic principles, France essentially really pays attention to aspects of humanism and welfare, including the welfare and the human aspects of the people of developing nations.  The policy, Rizal continued, also conflicts with the `Amsterdam Declaration in Support of a Fully Sustainable Palm Oil Supply Chain by 2020` signed in Amsterdam on December 7, 2015 by representatives from Denmark, Germany, the Netherlands, England, and France themselves. The Government of Indonesia also feels that the very unfriendly policy violates Bestimmungen of the World Trade Organization (WTO) and the General Agreement on Tariffs and Trade (GATT) 1994, which are essentially declaring that a country's laws should not discriminate against similar product imports. Indonesia itself has worked hard to implement standards based on ecological considerations for managing the palm oil industry, which are outlined in Indonesian Sustainable Palm Oil (ISPO).  The progressive CPO tax, which funding from will enter the French social agency, is also deemed by Rizal to be ironic because 2 million Indonesian small palm oil farmers will have to subsidize welfare funding for the French people. `With that in mind, Indonesia is asking for the wisdom of the French government and parliament to stop the amendment process to Law No. 367. Ecological and environmental considerations should not be used as a tool of protectionist policies that are discriminatory and unfair,` Rizal concluded. 
Editor: Ruslan Burhani
http://www.antaranews.com/berita/543573/rizal-ramli-nilai-rencana-pajak-sawit-bentuk-arogansi-prancis
++++++++++++++++
Indonesia rejects French palm oil tax plan
Jakarta (ANTARA News) - Indonesia strongly rejects the plan of the French government to impose progressive taxes on all palm oil-based products.The First Deputy for Maritime Sovereignty in the Coordinating Ministry for Maritime Affairs, Arif Havas Oegroseno, said at a limited discussion with journalists in Jakarta on Monday, that the plan to impose taxes is contained in a draft law on biodiversity passed by the French Senate on January 21.`The bill includes taxes on palm oil production, which will come into effect in 2017. The details are 300 euros per ton for 2017, 500 euros per ton for 2018, 700 euros per ton for 2019, and 900 euros per ton in 2020. In fact, right now, we are already subject to a palm oil tax of 103 euros per ton,` he said.For palm oil used in food products, the bill sets out additional duties of 3.8 percent. While kernel oil used for food products will be subject to duties of 4.6 percent.After 2020, Havas continued, the tax will be increased annually, as determined by the French Minister of Finance.`Strangely, the tax will not apply to canola, sunflower, and soybean seeds, or

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