Latest News: Page 31

State-Owned Plantation Company Embraces Covid-19 Prevention Protocols

26

Mar

State-Owned Plantation Company Embraces Covid-19 Prevention Protocols

This coronavirus prevention protocol applies to the head office and all subsidiaries in Indonesia and is also disseminated to workers on the [...]

State-Owned Plantation Company Embraces Covid-19 Prevention Protocols. This coronavirus prevention protocol applies to the head office and all subsidiaries in Indonesia and is also disseminated to workers on the plantation/unit. Human Resources Director of PT Perkebunan Nusantara III (Persero) Wing Antariksa explained that the protocol was prepared in the early period of the outbreak of the Covid-19 pandemic in the world, following the government's official statement confirming that there were patients infected with Covid-19 in Indonesia. His party prepared hand sanitizers that could be accessed by employees at any time, sprayed disinfectants in the office environment, and implemented a Work from Home (WFH) policy that was carried out alternately for a period of 2 weeks since March 16, 2020, at the head office in Jakarta. “Employees who are found to be unwell, pregnant, over 50 years old, and employees who use public transportation are allowed to work from home,” said Wing Antariksa in a statement, Monday (23/3/2020). This BUMN also enforces a protocol for receiving guests visiting the office by checking the body temperature of each guest and washing hands before entering the office location, reducing face-to-face meetings with customers and external stakeholders using video conferencing methods and correspondence administration via the company email. He said that the preparation of this protocol is actually inseparable from an overall analysis of the impact of the spread of the Covid-19 virus, including the company's operations. Its implementation is carried out carefully so as not to disturb the comfort of customers, guests, and employees. His party has also issued a circular letter urging all employees, especially in the Jakarta office, to carry out social distancing, including by implementing a policy for employees to work at home. He also appealed to employees and workers in the plantation area not to panic and overreact but to always keep abreast of the latest information.   https://www.topbusiness.id/32528/holding-bumn-perkebunan-terapkan-protokol-pencegahan-covid-19.html

26

Mar

Ahead of Ramadan, CPO Price Rises 1.4%

On Tuesday (17/3/2020), the price of CPO for the 3-month delivery contract at Bursa Malaysia Derivatives (BMD) rose 1.44% compared to yesterday's [...]

Ahead of Ramadan, CPO Price Rises 1.4%. On Tuesday (17/3/2020), the price of CPO for the 3-month delivery contract at Bursa Malaysia Derivatives (BMD) rose 1.44% compared to yesterday's closing position. CPO is now traded at RM 2,252 per tonne.Currently, the price of CPO has indeed collapsed when compared to its price early last year. The CPO price is recorded to have decreased by 26.2% year to date (ytd). The triggers are indeed many, ranging from the conflict between Malaysia and India to the latest sentiment of the COVID-19 pandemic.
`The price of palm oil has plummeted due to a disruption in demand in the European Union and the Middle East when the number of cases of COVID-19 infection in those countries has increased and become a risk that has impacted demand,` said Anilkumar Bagani, a head of commodity research at the Sunvin Group.Malaysian palm oil exports for the period 1-15 March fell between 1.8% and 9.6% compared to the previous month based on a survey conducted by cargo surveyors.Because its price has fallen sharply, CPO has begun to be eyed by traders. Especially because next month (April) is the start of Ramadan. Usually during fasting, consumption increases and this drives up demand for palm oil. This has become one of the positive sentiments for CPO, and so has the potential to raise the price.However, due to the COVID-19 pandemic

Here Are 6 Potential Impacts of COVID-19 on the Agriculture Sector

26

Mar

Here Are 6 Potential Impacts of COVID-19 on the Agriculture Sector

But what about the agricultural sector? According to Agriculture.com, Mark Stephenson and Dr. John Shutske of the University of Wisconsin-Madison say [...]

Here Are 6 Potential Impacts of COVID-19 on the Agriculture Sector. But what about the agricultural sector?
According to Agriculture.com, Mark Stephenson and Dr. John Shutske of the University of Wisconsin-Madison say there are six specific things farmers, farm families, agribusinesses and employees should be watching and planning for.
1. Commodity and farm prices. 
As we see increased levels of concern, recommendations for “social distancing,” reducing travel, avoiding crowds, and closures and other protective practices to slow the spread of COVID-19, consumers will make difficult choices about food, eating out, and overall spending. 
Dairy products are prominently featured in food away from home, and there could be some disruption in food service sales. That will likely impact markets and prices. There are also backups at ports in other countries as ships wait to be unloaded with U.S. dairy products and other agricultural commodities. The Chicago Mercantile Exchange has closed all trading floors until “further notice,” though electronic trading will continue.
Concerns about the impact of the virus on the broader economy are likely to have a bigger impact on milk prices. Many countries in the European Union were already flirting with recession before the virus outbreak, and these events will likely push them over the edge. China was also experiencing slower economic growth before these events. 
The U.S. has enjoyed strength in the economy, but there were leading indicators before the pandemic concerns that suggested we were past the peak of the business cycle and that an economic slowdown, or possibly even a recession, was coming. A worldwide recession, like the one experienced in 2008-09, would push out the expected recovery in milk prices by at least another year.
2. Slowdowns and shortages in supply chains. 
As logistics are disrupted and efforts continue to slow the spread of the virus, sectors across industries that are interconnected are already being impacted. With some products, “panic buying” is creating additional concerns. As an example of a supply chain disruption in agriculture, the American Veterinary Medical Association (AVMA) is advising that there could be potential shortages of animal pharmaceuticals from at least some of the larger drug manufacturers. If the virus spreads more broadly in agricultural states like Wisconsin, we could see issues with the delivery and pickup of farm products as workers – milk truck drivers, for example – stay home because they are sick or because they are caring for sick family members or school-age children. The same concerns would affect processors. Slowdowns could also impact fertilizer, fuel and other input deliveries, and availability as we head into spring. In extreme cases, there could be issues with utilities – electricity, natural gas, propane – based on input availability or workforce shortages. However, utility companies generally do a good job of contingency planning that should help protect against the impacts of unforeseen events.
3. Farmer health. 
Across the Midwest, farmers are a relatively older population, compared to the general working population. The 2017 Ag Census shows the average age of farm operators is nearly 58 – at least a decade older than workers in most other sectors. And, unlike workers in other industries, 26% of farm operators are 65 years of age or older. A full 11.7% of principal U.S. farm operators are 75 years of age or older. 
Data from other countries that have done more widespread testing suggest that COVID-19 has a much higher severity rate for those in their 60s and older, meaning the prevention and protection recommendations from the CDC and state (and local) public health experts are especially important for the farm population in the U.S.
4. Farm labor. 
Even if the infection rate in the general population remains relatively low, it is likely we will see some workers who eventually get sick. But perhaps more importantly, even if infection rates remain low (in the single digits), it is very likely that workers will need to be off work, especially with school closures and/or workers needing to stay home to care for sick or elderly family members. Fear of those occurrences and misinformation can also lead to higher absenteeism.
5. Worker safety and personal protective equipment (PPE). 
There are shortages of PPE and other protective gear that are vital to safely operating farms and keeping workers and animals healthy. As a result of current demand by the health care industry, N-95 respirators are in very short supply (likely needed this spring to handle dusty grain as a result of less than ideal harvest conditions last fall). There are also reports of concerns about the availability of protective gloves that are now common on dairy operations as a way to protect milk quality and protect animal and human health.
6. Other disruptions.
Sparse populations and less frequent travel may provide some natural social distancing for rural communities, but there are challenges that rural residents may face. Many gathering places, such as schools and churches, are closed and normal routines and events have been disrupted. Instead, in some areas and for high school and college students, classes and services are being taught and conducted online. This could be difficult for some rural residents, as high-speed internet service is not available in all areas of the country, including some of our communities with strong agricultural bases.
Only time will tell the severity of the impact on agriculture from the novel coronavirus, Stephenson and Shutske say. They urge everyone to take reasonable precautions to limit the spread of the disease and its impacts on your business and your life. They say stockpiling farm supplies is not recommended and can cause bigger problems for the industry, and that thoughtful purchasing of needed inputs can minimize disruptions to your operation. Stay informed, listen to experts, and follow the recommendations from federal, state, and local agencies and authorities.

Palm Oil Exports Decline Sharply in February Amid Coronavirus Outbreak

26

Mar

Palm Oil Exports Decline Sharply in February Amid Coronavirus Outbreak

"Palm oil export which has been the biggest contributor, in February 2020, the realization was only 84,000 tons. In the same period in 2019, it [...]

Palm Oil Exports Decline Sharply in February Amid Coronavirus Outbreak. "Palm oil export which has been the biggest contributor, in February 2020, the realization was only 84,000 tons. In the same period in 2019, it reached 371,000 tons," said Minister of Agriculture Syahrul in a Hearing Meeting at Commission IV of the House of Representatives (DPR) Jakarta, Monday (17/2/2020).
Palm oil export data in February 2020 was recorded only at 84,000 tons, plummeted around 77.27 percent compared to the same month in 2019 which was 371,000 tons. Compared to data from the previous month, palm oil export in February 2020 drastically decreased by 82.56 percent from the January 2020 export realization of 483,000 tons.

https://www.inews.id/finance/makro/akibat-virus-korona-ekspor-kelapa-sawit-pada-februari-turun-tajam
However, on a year on year basis, January 2020 export increased by 3 percent from January 2019 which was recorded at 469,000 tons. Therefore, the Ministry of Agriculture strives to anticipate the decline in agricultural export to China by seeking and utilizing other markets that are also potential.
"Ministry of Agriculture strives to anticipate the decline in agricultural export to China through coordination with exporters to utilize alternative export markets such as India, Middle East, and Russia," said Syahrul.
Meanwhile, export decline to China also happened in other plantation commodities, such as coconut that dropped by 4.71 percent from 24,000 tons in January 2020 to 23,000 tons in February 2020.
Other plantation commodities fell by 46.46 percent from 42,000 tons in January 2020 to 22,000 tons in February 2020. In total, plantation commodities in February 2020 compared to January 2020 dropped by 74.17 percent, while that of February 2020 compared to February 2019 decreased by 65.26 percent.

Bank Muamalat and INACOM Collaborate on the First Sharia Hedging Facility in Indonesia

05

Dec

Bank Muamalat and INACOM Collaborate on the First Sharia Hedging Facility in Indonesia

This Sharia hedging is a transaction that is carried out based on the Sharia Principles in order to mitigate the risk of changes in exchange rate for [...]

Bank Muamalat and INACOM Collaborate on the First Sharia Hedging Facility in Indonesia. This Sharia hedging is a transaction that is carried out based on the Sharia Principles in order to mitigate the risk of changes in exchange rate for certain currencies in the future according to DSN MUI Fatwa No. 96/DSN-MUI/IV/2015 on Sharia Hedge Transactions (Al Tahawwuth Al-Islami) in Exchange Rates.Chief of Corporate Banking Officer of Bank Muamalat Irvan Yulian Noor said that the cooperation of hedging facility that uses the sharia principles is the first time that it is carried out by a sharia bank in Indonesia. This shows that treasury products of Bank Muamalat are very diverse and are able to accommodate the business needs of customers, especially in foreign exchange transactions.`We hope that this cooperation may strengthen the brand awareness of Bank Muamalat and will have a positive impact on the growth of funding and fee based income, and contribute to positive growth of new customers of the company,` he said in the signing ceremony of PKS on Thursday, December 5, 2019 at Muamalat Tower, Jakarta.Finance & General Director of INACOM, Heryanto Eko Purnomo, said that this cooperation shows the commitment of INACOM to grow and expand the market share, particularly in export markets, such as the Middle East, South Asia, Central Asia, and Africa. Various leading plantation commodities of Indonesia have become export sources in the trade business sector with a significant contribution of foreign exchange for Indonesia. `With the support and trust from the banking industry, it is expected that it will drive the achievement of the business performance of INACOM in accordance with the business target and support the growth of the entire market share of PTPN Group,` he said.

Anniversary of 1 Decade of PT KPBN (INACOM)

21

Nov

Anniversary of 1 Decade of PT KPBN (INACOM)

Entering into our second decade is a long journey, one that is worth appreciating. A company that has renewed itself, with a vision and a mission [...]

Anniversary of 1 Decade of PT KPBN (INACOM). Entering into our second decade is a long journey, one that is worth appreciating. A company that has renewed itself, with a vision and a mission that motivates us to work harder and innovate.The syukuran event of PT KPBN INACOM's anniversary was attended by the Marketing Director of Holding Perkebunan Nusantara PTPN III Persero, the Board of Directors of PT KPBN, retired employees, and all employees of PT KPBN.In his speech, Edward S Ginting, President Director of PT KPBN, said that the company is currently on the rise, working with all levels of employees to achieve the highest targets ever set before. We believe that we will be even better. Happy 10th birthday to KPBN, may we be even more successful next year. In addition, there was also a speech from the Marketing Director of Holding Perkebunan Nusantara PTPN III (Persero) by Dwi Susanto, a series of thanksgiving events such as prayer readings for the anniversary, tumpeng cutting, inauguration of the INACOM X Anniversary Monument, as well as birthday greetings from employees. , awarding of retirement awards, handover of environmental development assistance for natural disasters in Maluku 2019, and the event was closed with a friendly gathering and a group photo.

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