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RUBBER PRICE Nov 24: Falls Sharply With Other Commodities, Pressured by Fed Sentiments

24

Nov

RUBBER PRICE Nov 24: Falls Sharply With Other Commodities, Pressured by Fed Sentiments

Rubber for April 2016 delivery, the most active contract on the Tokyo Commodity Exchange, settled 3.13% lower at 154.70 yen a kilogram. The rubber [...]

RUBBER PRICE Nov 24: Falls Sharply With Other Commodities, Pressured by Fed Sentiments. Rubber for April 2016 delivery, the most active contract on the Tokyo Commodity Exchange, settled 3.13% lower at 154.70 yen a kilogram.
The rubber price dropped along with other commodities as investors sought safety ahead of a possible Federal Reserve interest rate increase and the long holiday break.
The dollar rose after hawkish comments from Federal Open Market Committee members reinforced speculation that U.S. rates will start to rise in December.
Commodity prices tumbled on the London Metal Exchange, with copper, aluminum and zinc all dropping to their lowest prices since 2009. Nickel touched its weakest level since 2003.
“The market is worried about a U.S. rate hike pushing down on rubber,” Naohiro Niimura, an analyst at Market Risk Advisory Co. in Tokyo, told Bloomberg.
“This is pushing down prices of risk assets across the board, including rubber.”
March 2016 Rubber Futures on TOCOM

Date

Level

Change

24/11/2015

154.70

-3.13%

23/11/2015

20/11/2015

159.70

+1.33%

19/11/2015

157.60

+0.06%

18/11/2015

157.50

—

Source: Bloomberg

CPO FUTURES November 24th: Opened Higher Following Rebound in Soybean Oil

24

Nov

CPO FUTURES November 24th: Opened Higher Following Rebound in Soybean Oil

The CPO futures contract for February 2015, the most active contract on Bursa Malaysia, opened up 0.48% higher at 2,293 ringgit or IDR7.38 million [...]

CPO FUTURES November 24th: Opened Higher Following Rebound in Soybean Oil. The CPO futures contract for February 2015, the most active contract on Bursa Malaysia, opened up 0.48% higher at 2,293 ringgit or IDR7.38 million per ton. 
The commodity then traded within a narrow range and fell as much as 0.09% to 2,280 ringgit per ton. At 10.06 WIB, the CPO price rose 0.09% to 2,284 ringgit per ton.
The CPO futures contract price rebounded into the green zone after closing 0.35% lower yesterday as the price of soybean oil dropped in the US.
Soybean oil on the Chicago commodities exchange plunged 1.21% yesterday to US$ 27.84/pound. 
However, soybean oil has rebounded and was up 0.04% in early trading this morning. At 10.13 IWB, the price of soybean oil had climbed 0.43% to US$ 28.31/pound.
Price Movement of CPO Contracts for February 2015

Date

Level

Change

11/24/2015(10.06 WIB)
2,284
+0.09%

11/23/2015
2,282
-0.35%

11/20/2015
2,290
-0.39%

11/19/2015
2,299
-0.82%

11/18/2015
2,318
+1.09%

Source: Bloomberg

United world against terror, Malaysia spirited up

23

Nov

United world against terror, Malaysia spirited up

The acts of barbarism by the terrorists do not represent any race or religion, Razak was quoted as saying by Reuters.Islamist gunmen killed 19 people [...]

United world against terror, Malaysia spirited up. The acts of barbarism by the terrorists do not represent any race or religion, Razak was quoted as saying by Reuters.Islamist gunmen killed 19 people in an attack on a luxury hotel in Mali on Friday before Malian commandos stormed the building and rescued about 170 guests and staff, most of them foreigners.The attack came a week after Islamic State attacks in Paris killed 129 people.`The perpetrators of these cowardly and barbaric acts do not represent any race, religion or creed. We must not allow them to define any of these,` Najib said at the opening of the ASEAN summit.`They are terrorists, and must be fought with the full force of the law.`Malaysia has deployed a massive security force across Kuala Lumpur as leaders from 18 nations, including Obama, arrive for the summit.Obama himself said the Mali attack only strengthened the resolve of the United States and its allies to relentlessly pursue those who kill civilians and give militant groups no safe haven.`We will continue to hunt down terrorist networks,` Obama said. `We will not allow these killers to have a safe haven.`
Editor: Jafar M Sidikhttp://www.antaranews.com/berita/530738/malaysia-seru-dunia-bersatu-melawan-teror+++++++++

Economist appreciates Rachmat Gobel attending rivals' declaration

23

Nov

Economist appreciates Rachmat Gobel attending rivals' declaration

"It is a simple matter in fact but not every person or candidate can do it, even by attending the opponent's open event of the declaration," Faisal [...]

Economist appreciates Rachmat Gobel attending rivals' declaration. `It is a simple matter in fact but not every person or candidate can do it, even by attending the opponent's open event of the declaration,` Faisal stated in Jakarta, Sunday.According to him, Rachmat Gobel's move was remarkable, amid the difficulty of a role model and honesty to be realized by those who were running as candidates to steer a big organization such as the Indonesian Chamber of Commerce and Industry (Kadin).`It is the evidence that Rachmat Gobel has the moral superiority. I think Rachmat Gobel is indeed in his class as the most appropriate Kadin general chairman candidate and can be widely accepted by Kadin members,` Faisal remarked.Rachmat Gobel was known as a courteous and simple man, therefore, his personal capital had made his personal relationships with many parties, including the government, good and free from conflict.`Rachmat Gobel is a reflection of a superior national businessman who became great with his determination and ability,` he said.The Seventh National Conference (Munas VII) of Kadin carries a theme of `Strengthening National and Regional Economic Competitiveness through Sustainable, Innovative and Strong Industrial Development`.The main agenda of the Munas was making the strategic work program formulation and electing Kadin general chairman for the coming five years, replacing the 2010-2015 leadership term of Suryo Bambang Sulistio in Kadin.The Munas was scheduled to be opened by Vice President Jusuf Kalla on Monday (Nov. 23). So far, two figures who had been active in Kadin have announced their candidacy as general chairman, namely businessman and former Trade Minister Rachmat Gobel and Kadin Deputy General Chairman for Banking and Finance, Rosan Perkasa Roeslani.Another candidate, Kadin Foreign Institution Cooperation Standing Committee Chairman Maxi Gunawan, has canceled his candidacy. Maxi supports and joins Rachmat Gobel.Rachmat Gobel was formerly Kadin Deputy General Chairman for the Metal, Machine, Chemical and Electronics Industry during the leadership of Aburizal Bakrie, and, during Mohammad S Hidayat's leadership of Kadin, he was twice in succession entrusted as Kadin Deputy General Chairman for Industry, Technology and Marine Affairs. 
Editor: Ruslan Burhanihttp://www.antaranews.com/berita/530865/ekonom-apresiasi-rachmat-gobel-hadiri-deklarasi-pesaingnya

Indonesia-Malaysia Palm Oil Producing Council

23

Nov

Indonesia-Malaysia Palm Oil Producing Council

The agreement was signed by the Coordinating Minister for Maritime Affairs and Resources Rizal Ramli and the Minister of Plantation Industries and [...]

Indonesia-Malaysia Palm Oil Producing Council. The agreement was signed by the Coordinating Minister for Maritime Affairs and Resources Rizal Ramli and the Minister of Plantation Industries and Commodities of Malaysia Datuk Amar Douglas Uggah Embas witnessed by President Joko Widodo (Jokowi) and the Prime Minister of Malaysia Najib Razak. CPOPC aims to promote, develop and strengthen cooperation in the palm oil industry with member countries, to ensure the industry's contribution to economic development and the prosperity of the people. The Council will play a role in promoting the development of the palm oil industry among all stakeholders in the producer countries, encouraging the welfare of smallholders, and developing and establishing a global framework for sustainable palm oil. CPOPC also promotes cooperation and investment in developing sustainable and environmentally friendly palm oil industrial areas and addresses obstacles in the trade of these commodities. In addition to Indonesia and Malaysia as the founding countries, CPOPC membership is open to all palm oil producing countries, including Brazil, Colombia, Thailand, Ghana, Liberia, Nigeria, Papua New Guinea, the Philippines and Uganda. For the initial operation of CPOPC, Indonesia and Malaysia each contributed US $ 5 million as an initial fund. The CPOPC Secretariat will be located in Jakarta. The two ministers also proposed a Global Framework for the Principles of Sustainable Palm Oil (Ecology Welfare of Palm Oil Producing or e+POP). e+POP has nine principles that take into account the laws and regulations related to sustainable development, which will strengthen the image and promote the positive side of palm oil.
Editor: Priyambodo RHhttp://www.antaranews.com/berita/530722/indonesia-malaysia-bentuk-dewan-penghasil-minyak-sawit?utm_source=populer_home&utm_medium=populer&utm_campaign=news

Pertamina partners with 11 biodiesel producers

20

Nov

Pertamina partners with 11 biodiesel producers

The partnership was one of Pertamina's real steps to comply with the government's rules on biodiesel, Corporate Communication Vice President Wianda [...]

Pertamina partners with 11 biodiesel producers. The partnership was one of Pertamina's real steps to comply with the government's rules on biodiesel, Corporate Communication Vice President Wianda Pusponegoro said in Jakarta, Friday.He said the government had decided to make it mandatory to use 15 percent biodiesel for diesel fuel in 2015 and 20 percent biodiesel for diesel fuel in 2016.From the cooperation with the biodiesel producers, Pertamina would get supply of 1,84 million kiloliters of biofuel, he said.Pertamina's Marketing and Trading Director Achmad Bambang said the contract of cooperation with the producers would be effective from today until April 2016.He said Pertamina had already distributed bio-diesel with Fatty Acid Methyl Esters (FAME) by 15 percent.The total FAME absorption reached 300 thousand kiloliters on October 31, 2015 and it was targeted to reach 966.785 kiloliters or equivalent to 5,98 million kiloliters at the end of 2015.Pertamina estimates to be able to absorb FAME by 5,14 million kiloliters or equivalent to 26 million kiloliters of bio-diesel.From the volume, 2,7 million kiloliters are to be allocated for public service obligation (PSO) or subsidized fuel, 1,26 million kiloliters for electricity generator and 1,12 million kiloliters for non-PSO.
Editor: Maryatihttp://www.antaranews.com/berita/530535/pertamina-bermitra-dengan-11-produsen-biodiesel

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