Latest News: Page 110

20

Jan

U.S. oil price drops below $28 in Asia

The U.S. benchmark, West Texas Intermediate (WTI) crude for February delivery, fell as low as 27.92 U.S. dollars a barrel before recovering slightly. [...]

18

Jan

Malaysia Export Surge Lifts Palm Oil

Citing Bloomberg, Friday (January 15), the price of CPO with delivery contract in February contract on Malaysia Derivative Exchange rose 0.42% to the [...]

Malaysia Export Surge Lifts Palm Oil. Citing Bloomberg, Friday (January 15), the price of CPO with delivery contract in February contract on Malaysia Derivative Exchange rose 0.42% to the level of RM 2,412 per metric ton. The value was equal to US$ 544.43 per metric ton. However, in the last week, CPO is degraded by 0.94%.
The increase in CPO price is supported by the increase of export of CPO in Malaysia. Intertek report showed that the export of CPO in Malaysia during the period of January 1-15, 2016 rose 4.3% to 486,846 compared to the same period last month.
Commodity analyst, Deddy Yusuf Siregar, said that the increase of export of CPO in Malaysia gives positive sentiment to the price of CPO. The thing that is inhibiting CPO now is the movement of the price of world’s crude oil that still tends to be bearish. “If the price of crude oil is suppressed continuously, CPO will find it difficult to increase,” he said.
However, the price of CPO can survive since there is a support from El Nino Storm. Dry weather due to El Nino is predicted to affect the production of CPO.

Bayu Khrisnamurti, President Director of CPO Fund Public Service Body, once said that Indonesia’s CPO output will stagnate or decrease by around 3% to 30.6 million tons to 32.3 million tons in 2016.
Then, La Nina storm is also predicted to approach the region of Southeast Asia in the second semester this year. If El Nino can cause dry weather, then La Nina can bring flood, which results in the delay in harvesting CPO. The effect will still inhibit the production.
Dedy said that if the production is lower than the demand, then the stockpile of CPO will eventually decrease or even run out. The hope is, this could encourage the increase in the price of CPO.
Dedy predicted that the impact of El Nino will start to be felt in the first semester this year. “It is possible that the price of CPO will go up to RM 2,400 per metric ton in the first semester,” he added.
http://jambi.tribunnews.com/2016/01/18/kenaikan-ekspor-malaysia-mengangkat-harga-cpo
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RUBBER PRICE JANUARY 13: Increased 4.36% Driven by Thailand's Policy

13

Jan

RUBBER PRICE JANUARY 13: Increased 4.36% Driven by Thailand's Policy

The rubber price opened 0.20% lower at 146.60 yen, down from yesterday's 146.90 yen. The closing price was the lowest for the most active contract at [...]

RUBBER PRICE JANUARY 13: Increased 4.36% Driven by Thailand's Policy. The rubber price opened 0.20% lower at 146.60 yen, down from yesterday's 146.90 yen.
The closing price was the lowest for the most active contract at the Tokyo Commodity Exchange since June 2009.
The president of Rubber Grower and Processors in Thailand, Uthai Sonluksub said that this price support was in line with the farmers' proposal to increase the value added from rubber products and increase farmer incomes.
`The government has moved in the right direction to promote the production of value-added goods from rubber.  The government plans to buy goods from rubber,`he said, as quoted by Bloomberg.
Rubber Contract Price Movement at TOCOM

Date

Price (Yen/Kg)

Change

13/1/2016

153.30

+4.36%

12/1/2016

146.90

-1.74%

8/1/2016

149.50

+0.47%

7/1/2016

148.80

+0.40%

6/1/2016

148.20

-1.59%

Source: Bloomberghttp://market.bisnis.com/read/20160113/94/509273/harga-karet-13-januari-dikerek-kebijakan-thailand-harga-naik-436-

CPO PRICE 13 JANUARY: Palm Oil Finally Strengthens, Market Starts to Respond to Stock Conditions

13

Jan

CPO PRICE 13 JANUARY: Palm Oil Finally Strengthens, Market Starts to Respond to Stock Conditions

Earlier, CPO futures contracts for March 2016, the most active contracts on the Bursa Malaysia, the CPO price opened weakening 0.04 percent at 2,381 [...]

CPO PRICE 13 JANUARY: Palm Oil Finally Strengthens, Market Starts to Respond to Stock Conditions. Earlier, CPO futures contracts for March 2016, the most active contracts on the Bursa Malaysia, the CPO price opened weakening 0.04 percent at 2,381 ringgit per ton.
This is in line with a 14 percent increase in China's soybean oil imports, reaching 81.69 million tons in 2015. China is the second largest importing country after Thailand.
CPO was traded higher at the time when most of the global stock and commodity markets were in the red zone, due to concerns over the slowing Chinese economy.
Brent oil prices also rose 1.20 percent to US$31.23 / barrel this afternoon.
Earlier, as quoted by Bloomberg, Market Strategist at Jupiter Securities Sdn. Benny Lee in Kuala Lumpur said that production was quite affected, so that supply is likely to fall further in this quarter.
“Decreasing stock even pushed prices to touch 2,600 ringgits over the next month,” said Lee.
Full-year production in Malaysia grew to a record 19.96 million in 2015 from 19.67 million tons last year, as shown by the MPOB website.
Price Movement of CPO March 2016 Contract

Date

Level

Change

13/1/2016 (11.26)

2.387

+0.21%

12/1/2016

2.382

-0.67%

11/1/2016

2.398

-1.52%

8/1/2016

2.435

+0.54%

7/1/2016

2.422

-1.06%

Source: Bloomberghttp://market.bisnis.com/read/20160113/94/509265/harga-cpo-13-januari-minyak-sawit-akhirnya-menguat-pasar-mulai-respons-kondisi-stok-

The construction of a sugar factory in Southeast Sulawesi faces land constraint

13

Jan

The construction of a sugar factory in Southeast Sulawesi faces land constraint

"Investors will build a sugar factory if the core land that is a minimum standard requirement of around 10 thousand to 20 thousand hectares is [...]

The construction of a sugar factory in Southeast Sulawesi faces land constraint. `Investors will build a sugar factory if the core land that is a minimum standard requirement of around 10 thousand to 20 thousand hectares is available,` Bambang said in Kendari on Wednesday.He admitted that the Ministry of Agriculture will prioritize Sultra with all relevant ranks to be made the basis for national new sugar development outside of Java. `The Ministry of Agriculture is ready to disburse funds of hundreds of billions but it is hampered by the sugar factory that has not been built because the standard core land requirement has not been met,` he said. According to him, to overcome the core land shortage, support from all parties is needed, especially from district governments that are designated as sugarcane development centers to prepare land. `Sugarcane development centers that are expected to provide assistance are South Konawe, Bombana, Kolaka, Muna, West Muna, and North Buton,` he said.  He said that if core land support is ready, the investor will prepare the factory, and when the factory is available, the government will provide support for seed garden activities, grinding core seed gardens, with funds of up to hundreds of billion rupiah.
Editor: Unggul Tri Ratomohttp://www.antaranews.com/berita/539626/pembangunan-pabrik-gula-di-sultra-terkendala-lahan

Anticipating El Nino, Government Considering Rice Imports from Pakistan and India

12

Jan

Anticipating El Nino, Government Considering Rice Imports from Pakistan and India

Trade Minister Thomas Lembong said it has not yet been ascertained how much is the appropriate price for importing rice from Pakistan and India, [...]

Anticipating El Nino, Government Considering Rice Imports from Pakistan and India. Trade Minister Thomas Lembong said it has not yet been ascertained how much is the appropriate price for importing rice from Pakistan and India, therefore it has not been ascertained when the government will import rice from the two countries.
`Bulog is still studying the classes of rice available from premium, medium, and lower. This is still under review, it takes time,` Thomas Lembong told reporters, at the office of the Investment Coordinating Board (BKPM), Monday (11/1/2016).
Previously, in 2015 Indonesia has imported rice from Thailand and Vietnam, more than one million tons. Thomas said Indonesia still needs to expand the number of importing countries, to ensure the adequacy of rice supply.

`The concept is we want to expand the sources of food imports. We tend to import from one or two countries. We will study whether there are a third, fourth and fifth country,` he said.
On that occasion he also mentioned that the heat wave El Nino this year is predicted to hit in February. It is feared that this will once again disrupt the harvest of rice. Therefore the government must be prepared.
`Now we are preparing if there is a hit of El Nino in February, so it is still in the review stage,` he said.
Author: Nurmulia Rekso PurnomoEditor: Sanusi
http://www.tribunnews.com/bisnis/2016/01/12/antisipasi-el-nino-pemerintah-kaji-impor-beras-dari-pakistan-dan-india

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