Latest News: Page 119

15

Dec

CPO PRICES (December 15): 0.23% rebound

The CPO transaction for the February 2015 contract on Bursa Malaysia, as listed on Bloomberg, was at the level of 2.186 Malaysian ringgit per ton at [...]

08

Dec

Yen’s gains weigh on Tocom rubber

The price of natural rubber futures for the most active contract ie May 2016 opened lower due to the strengthening Japanese yen against the US [...]

Yen’s gains weigh on Tocom rubber. The price of natural rubber futures for the most active contract ie May 2016 opened lower due to the strengthening Japanese yen against the US dollar. The Japanese currency is observed to have increased by 0.03%, currently at 122.57 per US dollar. The rising value of the Japanese yen is making prices of commodities traded in this currency to be more expensive for foreign buyers, resulting in a decline in demand. The strengthening of the yen was driven by positive economic indicator data from Japan. Average Cash Earnings (YoY) for October was released this morning, which showed a 0.7% increase from the consensus of 0.4% and the previous result of 0.6%. The Tocom natural rubber price for the most active May 2016 contract is currently at 170.3 yen per kilogram. The natural rubber futures price has decreased by -0.4 yen compared to the previous close of 170.4 yen per kilogram. Vibiz Research Center analysts predict that the Tocom rubber price may further weaken today. Economic indicator data from Japan is still due to be released today, showing a potential increase in Consumer Confidence according to consensus, which may strengthen the yen. Resistance is expected at 175.00 yen and 180.00 yen for today’s trading session.

ICE Sugar Gains as Brazil Real Strengthens

08

Dec

ICE Sugar Gains as Brazil Real Strengthens

The US dollar fell in early trading hours. The poor ISM Manufacturing PMI data and the ECB's monetary easing policy weakened the dollar. Likewise, [...]

ICE Sugar Gains as Brazil Real Strengthens. The US dollar fell in early trading hours. The poor ISM Manufacturing PMI data and the ECB's monetary easing policy weakened the dollar. Likewise, against the Brazilian Real. Up to now the Brazilian Real has significantly strengthened against the US dollar.
Because Brazil is a major producer and exporter of raw sugar, its currency has a major impact on the sugar commodity market. With the strengthening of the Brazilian Real, the price of commodities sold in this currency becomes more expensive.
At the end the Saturday trading hours, the most active futures sugar price for the March 2016 contract surged. The most active future sugar price closed up by 0.24 cents or 1.56 percent, to position itself at 15.58 cents per pound.
Vibiz Research Center analysts estimate that the future sugar price movement on the ICE Futures New York will have the potential to continue strengthening. By looking at the US economic indicator data that will be released later tonight, the Non Farm Payroll which is indicated by a consensus to experience a decline, the dollar would tend to weaken again which would open the opportunity for the Real Brazil to strengthen.
The futures raw sugar price on ICE Futures New York has the potential to test support levels of 15.00 cents and 14.50 cents. While the resistance levels that will be tested if there is a price increase are at 16.10 cents and 16.60 cents.
http://www.bumn.go.id/ptpn9/berita/3159/Harga.Gula.ICE.Dikuatkan.Real.Brazil

CPO PRICE DEC. 8: Oil slides, CPO corrects by 1 percent

08

Dec

CPO PRICE DEC. 8: Oil slides, CPO corrects by 1 percent

CPO futures for February 2016, the most active contract on Bursa Malaysia, opened down 1.31% to RM2,404 or IDR 7.83 million per ton. The commodity [...]

CPO PRICE DEC. 8: Oil slides, CPO corrects by 1 percent. CPO futures for February 2016, the most active contract on Bursa Malaysia, opened down 1.31% to RM2,404 or IDR 7.83 million per ton.
The commodity was traded at the level of RM2,395–RM2,411 per ton in the early trade. At 10:29 West Indonesia Time, CPO price fell 1.15% to RM2,408 per ton.
CPO price corrected after it increased 2.96% to RM2,436 per ton yesterday, the highest price since 29 September 2015 driven by the soaring soybean oil price.
However, a sharp decline in oil price has triggered sell-offs in the commodity market. Brent oil fell 5.28% to USD 40.73 per barrel yesterday after OPEC declared that the quota of 30 million barrels per day production would not be executed until the meeting in June 2016.
Crude oil is CPO’s mixture material in bioethanol fuel production. The high crude oil price makes the competitiveness of plant-based fuel lower.
CPO Price Movement for February 2015 Futures Contract

Date
Level
Change

8/12/2015(at 10:29 West Indonesia Time)
2.408
-1.15%

7/12/2015

2.436

+2.96%

4/12/2015

2.366

+0.08%

3/12/2015

2.364

+1.42%

2/12/2015

2.331

-0.34%

Source: Bloomberghttp://www.bumn.go.id/ptpn5/berita/15329/HARGA.CPO.8.DESEMBER:.Minyak.Jatuh,.CPO.Terkoreksi.1.persen

CPO Price Dec. 7: Rally Continues, Opens 7.78 Million Rupiah/ton

07

Dec

CPO Price Dec. 7: Rally Continues, Opens 7.78 Million Rupiah/ton

In a trade at 10.23 WIB, February 2016 CPO futures traded on Bursa Malaysia, opened 1.94% higher to RM2,412 per ton or Rp7.78 million a ton. The [...]

Government announces seventh policy package

07

Dec

Government announces seventh policy package

Coordinating Minister for the Economy Darmin Nasution, Agrarian and Spatial Planning/National Land Agency (BPN) Chief Ferry Mursidan Baldan and [...]

Government announces seventh policy package. Coordinating Minister for the Economy Darmin Nasution, Agrarian and Spatial Planning/National Land Agency (BPN) Chief Ferry Mursidan Baldan and Investment Coordinating Board (BKPM) Deputy Chairman Azhar Lubis, announced the package of policies at the Presidential Office here on Friday afternoon. `In line with the directives from the President and Vice President, the Coordinating Minister for the Economy and the Agrarian Minister have been asked to deliver the seventh package of policies,` Pramono stated. The package, he stated, is divided into two approaches. The first regulation pertains to the labor intensive industry, which will be given ease in income-tax payment (PPh) article 21. The second regulation is regarding the amendment of Government Regulation No. 18/2015, which will provide tax allowance to five labor intensive industries. `The next (regulation) concerns the acceleration of land certificate issuance, especially for street vendors (PKLs), and will be regulated later for other sectors,` Pramono remarked. Meanwhile, with regard to permitting, initially four types of permits could be issued within three hours, but through the seventh policy package, nine types of permits are now provided within three hours. The nine permits include, among others, investment permit, act ratification, NPWP (taxpayer identification number), land blocking certificate, company registration, foreign workers utilization plan, permit for the utilization of foreign workers, producer recognition letters, and customs identification numbers.Editor: Unggul Tri Ratomohttp://www.antaranews.com/berita/533339/pemerintah-umumkan-paket-kebijakan-ketujuh

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