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Several Palm Oil Companies Ready to Exit IPOP

04

Dec

Several Palm Oil Companies Ready to Exit IPOP

General Director of Plantation, Ministry of Agriculture Gamal Nasir, stated on Thursday in Jakarta that the large company felt forced to sign the [...]

Several Palm Oil Companies Ready to Exit IPOP. General Director of Plantation, Ministry of Agriculture Gamal Nasir, stated on Thursday in Jakarta that the large company felt forced to sign the agreement in order to secure its market. `I have received information that, if I am not mistaken, two parties would withdraw (resign) from the IPOP,` he said. In September 2014, five large palm oil companies, Wilmar Indonesia, Cargill Indonesia, Golden Agri Resources, Musim Mas, and Asian Agri signed the IPOP agreement. The signing of the declaration, which took place at the UN Summit on Climate Change held in New York, United States, was witnessed by President Susilo Bambang Yudhoyono. Several criteria have been determined in the IPOP, including a ban on the expansion of palm oil plantations or `no deforestation`, a ban on palm oil plantations on peatland or `no peatland`, a ban on palm oil plantations using land with high carbon stock or `no high carbon stock` (HCS), and a ban on accepting fresh fruit bunches from palm oil plantations resulting from deforestation, peatland, and HCS (traceability). With this agreement, the five large companies refused to purchase CPO from companies considered as violating the IPOP regulations, causing the farmers` harvest to be unaccepted. This would lead to losses and closure for farmers and small palm oil companies, as there would be no buyers for their products. Furthermore, the five companies accommodate 80-85 percent of Indonesias total of fresh fruit bunches and CPO, including fresh fruit bunches from 4.5 million farmers. Related to this matter, the General Director of Plantation stated that his party has sent a letter to the management of IPOP Indonesia and the `big five company` signatories of IPOP to postpone the implementation of the IPOP, which has been in effect in Indonesia since the start of 2015. This measure was taken to uphold the countrys sovereignty and avoid being restricted by the demands of the European Union (EU) and the United States (US) in the palm oil business. The reason is that they cannot buy fresh fruit bunches and CPO that are not environmentally friendly, as stipulated in the IPOP regulation. Regarding the fact that until now, the five large companies are still refusing to purchase CPO from companies considered as violating IPOP regulations, Gamal stated that his party is ready to conduct inspections and summon them. `We will conduct inspections later on. Because I have sent them a letter to postpone the IPOP. I will summon them later on,` he said. Previously, the Minister of Agriculture, Amran Sulaiman, had stated that his party has warned the IPOP management and the five large companies (the big five company) that signed the IPOP agreement to comply with the official letter issued by the General Director of Plantation. According to him, the governments determination is to protect farmers in order to improve their welfare, but the existence of IPOP in Indonesia contradicts the Ministry of Agricultures efforts to encourage the welfare of farmers. `The CPO processed by small and medium-sized companies mostly absorbs fresh fruit bunches from farmers. We must pay attention to small farmers and their welfare. Therefore, we will conduct inspections (in the field on companies that are still refusing to accept farmers fresh fruit bunches),` said Amran. The Minister of Agriculture stated that regarding the standardization of palm oil plantations, it must refer to the Indonesian Sustainable Palm Oil (ISPO), a standardization system created by the Indonesian Government, and that this ISPO standardization is mandatory for all palm oil companies in Indonesia. 
Editor: Aditia Marulihttp://www.antaranews.com/berita/533209/sejumlah-perusahaan-sawit-siap-keluar-dari-ipop

INKOPKAR continues sugar market operations ahead of Christmas

04

Dec

INKOPKAR continues sugar market operations ahead of Christmas

"We conduct the market operation again to fulfill people's needs. The focus is outside Java," Chairman of Inkopkar, Brigadier General Felix [...]

INKOPKAR continues sugar market operations ahead of Christmas. `We conduct the market operation again to fulfill people's needs. The focus is outside Java,` Chairman of Inkopkar, Brigadier General Felix Hutabarat, said in Jakarta on Friday. According to Brigadier General Felix, previously, the market operation was carried out before Eid al-Fitr. A total of 68,358 tons of sugar was distributed during the market operation at that time. `We were appointed by the Ministry of Trade to distribute 100 thousand tons of sugar for the market operation,` said the alumnus of Akmil in 1983. Before Christmas 2015, the sugar market operation had been carried out in several provinces, such as Bangka Belitung, Riau, South Sulawesi. For the sugar market operation, Inkopkar cooperates with several sugar distributors in 21 provinces, with the target of reducing the sugar price below Rp11,000/kg at the retail level or Rp12,000 for remote areas such as Papua. `We ask territorial apparatus to supervise the price so that it does not exceed the amount that has been determined,` said the former Head of Information of Kodam I/Bukit Barisan. Separately, the sugar businessman from PT Agro Abadi, Budi Hartono, who was appointed to carry out the market operation in West Kalimantan, stated that currently the sugar stock in the province is less than half of the 6,000 tons/month.  `The national sugar production has indeed decreased, so that its impact is felt all the way to the regions, including West Kalimantan,` Budi said. He estimated that within the next 10 days, the price of granulated sugar in West Kalimantan will increase by Rp1,000 to Rp1,500/kg.  According to Budi, sugar from the market operation is sold at Rp10,500 to Rp11,000/kg. Whereas, the current price of sugar in Pontianak is around Rp12,000/kg. He hopes that Inkopkar will increase the amount of sugar from the market operation for West Kalimantan, which currently has a stock of only 1,000 tons and has been sold to the market.  `That amount is only enough for one week. Inkopkar needs to increase the amount of sugar in the market operation for West Kalimantan so that the price can be suppressed again,` he said. A citizen of Pontianak, Fatimah, admitted that she would be happy if the sugar operation was also carried out in her city. According to her, the price of sugar in Pontianak is Rp12,000/kg. `Wow, if there was another market operation, we would be happy. If there is another one, I will definitely buy, besides being cheap, it is definitely durable and has good quality,` she said while relating that on Eid al-Fitr, sugar from the market operation was sold for Rp10,000/kg. The same thing was also said by Nurul, another citizen of Pontianak. According to her, the price of branded sugar reaches Rp14,000/kg. Whereas, the price of loose sugar is Rp12,000/kg. `The cheap one is from Malaysia. I am afraid to buy it, especially for consumption by children,` she said. She also admitted that she would be happy if the sugar market operation was also carried out in Pontianak.
Editor: Suryantohttp://www.antaranews.com/berita/533240/inkopkar-lanjutkan-operasi-pasar-gula-jelang-natal

Oil prices fall in Asia ahead of OPEC meeting

02

Dec

Oil prices fall in Asia ahead of OPEC meeting

SINGAPORE, Dec. 17 - Asian benchmark Brent crude fell on Thursday but remained above $44 a barrel as traders awaited OPEC's meeting on Friday to see [...]

Oil prices fall in Asia ahead of OPEC meeting. SINGAPORE, Dec. 17 - Asian benchmark Brent crude fell on Thursday but remained above $44 a barrel as traders awaited OPEC's meeting on Friday to see if the group will cut output from the current high of 31 million barrels per day (bpd).  Any cut would reduce the global crude surplus which has weighed on prices for more than a year.   Most analysts expect the Organization of the Petroleum Exporting Countries (OPEC) to decide against cutting output as the cartel's biggest producer, Saudi Arabia, and its Gulf allies Kuwait, Qatar and the United Arab Emirates are more focused on defending market share.  OPEC's decision in November last year to maintain high output accelerated the decline in oil prices from above $100 a barrel in mid-2014.   `Saudi Arabia and its close Gulf allies, Kuwait, Qatar and the United Arab Emirates, between them account for well over half of OPEC's 31.5 million barrels per day of production, and the rest of OPEC cannot force them to cut,` energy consultancy IHS said in a report.   `Without the Gulf group, no OPEC agreement is effective,` it said, as quoted by AFP.   Iran is also expected to announce plans at the meeting to raise its oil exports once crippling Western sanctions are lifted under a landmark deal with world powers to curb Tehran's nuclear program.   Iranian Deputy Foreign Minister Abbas Araghchi said last week his country expects the deal to be implemented in early January, once Tehran has implemented its commitments.   `Certainly, it is almost inconceivable that Saudi Arabia would cut back its own output in order to make room for its rivals in general and Iran in particular, should sanctions be lifted,` IHS said.  The market will also be watching weekly U.S. commercial crude oil inventory data due on Wednesday for clues to demand in the world's biggest oil consumer. (Reporting by Jacob Gronholt-Pedersen; Editing by Michael Perry) 
Editor: Heppy Ratnahttp://www.antaranews.com/berita/532770/harga-minyak-turun-di-asia-jelang-pertemuan-opec

Mentan targets Indonesia to be able to control CPO prices

02

Dec

Mentan targets Indonesia to be able to control CPO prices

"Indonesia should take charge. In the past, the price has been determined by others. as the worlds largest palm oil supplier and producer ,we should [...]

Mentan targets Indonesia to be able to control CPO prices. `Indonesia should take charge. In the past, the price has been determined by others. as the worlds largest palm oil supplier and producer ,we should  control the CPO price,` said Minister Amran in the launching of Agriculture Science and Technology Park, in Agriculture Research and Development Agency, Cimanggu, Bogor City, West Java, Tuesday. Amran said, Indonesia’s stance to take over the determination of world CPO price will be conveyed directly in the international meeting Conference Of Parties (COP21) held in Paris, France, December 1-10, 2015.  `The COP21 meeting in Paris will discuss it. We have a strategy to become the one in charge. Joining hand with Malaysia to set the CPO standard, it will become the world’s standard,` he said.  He said that the palm oil industry is a strategic commodity that contributes greatly to the country’s foreign exchange. In 2014, palm oil contributed Rp250 trillion to the foreign exchange.  `We have to fight to get this, take control over the world’s CPO price, so that we gain more profit,` he said.  He said, palm oil plays an important role to the prosperity of farmers as many as 20 million people manage 4 million hectares of land. The support towards palm oil does not mean that the ministry does not care about the environment. However, the human prosperity should be the point of view taken, not only environment.  Indonesia and Malaysia, he added, must also join hand to meet the need of  the global market and also fight for the control of the price.  `The palm oil industry in Indonesia and Malaysia must cooperate, especially after establishing Council of Palm Oil Producing Countries (CPOPC), to increase the prosperity of palm oil farmers,` he said.
Reporter: Laily Rahmawatihttp://www.antaranews.com/berita/532694/mentan-targetkan-indonesia-mampu-kendalikan-harga-cpo

Economists predict rupiah will end the year at Rp14,100 against dollar

02

Dec

Economists predict rupiah will end the year at Rp14,100 against dollar

"In terms of exchange rates, we tend to weaken, it seems for this year I could say that the rupiah will still be pressured until the end of the [...]

Economists predict rupiah will end the year at Rp14,100 against dollar. `In terms of exchange rates, we tend to weaken, it seems for this year I could say that the rupiah will still be pressured until the end of the year,` said Anton in Jakarta, Wednesday.Based on the central rate of Bank Indonesia on Wednesday, the rupiah exchange rate reached Rp13,757 per US dollar, strengthening compared to the previous day Rp13,808 per US dollar. `Apart from the yuan factor, domestically in general there will be higher demand pressures for the dollar this month (December). So I predict the rupiah will be in the range of Rp14,100 per US dollar at the end of the year, but next year I am sure it will be stronger,` said Anton.According to Anton, from the capital side, in 2016 it is predicted that capital inflows will continue to enter Indonesia along with improvements in domestic economic growth. `Looking at our growth prospects in the range of 5 percent next year it is quite good and it could attract inflow to Indonesia, that's my reason why the rupiah will strengthen next year,` said Anton.The rupiah exchange rate strengthened after experiencing depreciation pressures in the third quarter of 2015. In the third quarter of 2015, the rupiah weakened by an average of 5.35 percent (qtq) to the level of Rp13,873 per US dollar. Pressures on the rupiah were influenced by external factors, namely concerns about the normalization of the Fed's policy and the devaluation of the yuan.However, the rupiah strengthened in October 2015, triggered by positive sentiment towards EM due to the dovish FOMC and improved optimism about Indonesia's economic prospects in line with the series of government policy packages and the rupiah stabilization package issued by Bank Indonesia. The rupiah strengthened by an average of 4.47 percent (mtm) to the level of Rp13,783 per US dollar. Going forward, Bank Indonesia will continue to maintain exchange rate stability in accordance with its fundamentals. 
Editor: Fitri Supratiwhttp://www.antaranews.com/berita/532714/ekonom-proyeksikan-rupiah-akhir-tahun-rp14100-per-dolar+++++++++

Vietnamese Embassy in Hanoi to hold business forum

01

Dec

Vietnamese Embassy in Hanoi to hold business forum

Information released by the Indonesian Embassy in Hanoi received in Jakarta, Monday stated that 100 Indonesian companies will promote their products [...]

Vietnamese Embassy in Hanoi to hold business forum. Information released by the Indonesian Embassy in Hanoi received in Jakarta, Monday stated that 100 Indonesian companies will promote their products in the exhibition in ICE Hanoi.Indonesian products exhibited will vary from food and drinks products to automobile and spare part products, engines, oil and coal, home appliances, constructions and consultancy, pharmacy and medical appliances as well as chemicals products.The exhibition of Indonesian products is the first large exhibition held in Hanoi. This exhibition serves as an attempt by the representatives of Indonesia to increase understanding of Indonesian business actors towards the latest development in Vietnam, taking advantage of the existing opportunities as well as expanding the economic presence of Indonesia in the neighboring country.This activity also aims to achieve the targeted trade value between the two countries of 10 billion USD in 2018.Prior year trade value between the two countries reached 5.6 billion USD. In investment sector, currently more than 25 Indonesian companies have started their operation in Vietnam.Meanwhile, Indonesian-Vietnamese Business Forum to be held on 11 December 2015 provides opportunity for the business society of Vietnam and Indonesia to meet and seek business opportunities as well as exploring mutually beneficial cooperation opportunities.The Business Forum will be attended by senior officials from Indonesia and Vietnam, relevant to trade and investment as well as leading business players of Indonesia and Vietnam.This forum is expected to deliver fresh perspective of business players and policy makers in Vietnam and Indonesia towards the latest development of each country, particularly in economic, trade and investment sectors. Approximately, 150 Indonesian entrepreneurs and 250 entrepreneurs from Vietnam are registered to attend the forum.This event will also be utilized by a number of regional governments by bringing entrepreneurs from their region to see the opportunities of economic cooperation with Vietnam.
Editor: Aditia Maruli
http://www.antaranews.com/berita/532452/kbri-hanoi-akan-selenggarakan-forum-bisnis

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