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China-US Trade War and Declining Export Volume Erode Malaysian CPO Prices

25

Jun

China-US Trade War and Declining Export Volume Erode Malaysian CPO Prices

"Today, the price of Malaysia CPO moved in the range of RM2,250-2,265 per ton compared to yesterday's range of RM2,238-2,276 per ton," said [...]

China-US Trade War and Declining Export Volume Erode Malaysian CPO Prices. "Today, the price of Malaysia CPO moved in the range of RM2,250-2,265 per ton compared to yesterday's range of RM2,238-2,276 per ton," said Arie Nurhadi, PT Monex Investindo Futures research analyst, in Jakarta, Friday (22/06/2018).Arie stated that the decline in the price of Malaysia CPO on Thursday was the fourth consecutive daily decline. Meanwhile, the price of RM2,238 per ton is the lowest price since July 2016."The decline was caused by negative sentiment that emerged along with the market's anxiety regarding the trade war between China and the United States (US). In addition, the decline in exports in June 2018 also contributed to the price decline," said Arie.Arie disclosed that the price of CPO for September 2018 delivery contracts on the Malaysia Derivatives Exchange had fallen 0.5% to RM2,251 per ton or the equivalent of US$60.79 per ton during the close of trading on Thursday.According to a release published by Societe Generale de Surveillance (SGS) and AmSpec Agri Malaysia (AmSpec) this week, exports of CPO from Malaysia during 20 days throughout June 2018 have fallen 6.37% and 10.015%, respectively, compared to the same period in May 2018."The data on the volume of CPO exports from Malaysia published by SGS and AmSpec this week have continued to impact the selling price of CPO from Malaysia in various commodity markets in the neighboring country," Arie concluded.
 
Link: http://www.industry.co.id/read/36490/perang-dagang-cina-as-dan-penurunan-volume-ekspor-gerus-harga-cpo-malaysia

Palm Sector Moves, Balel Islands to Establish Palm Oil Factories

25

Jun

Palm Sector Moves, Balel Islands to Establish Palm Oil Factories

"As soon as possible we will build a palm oil processing plant which will be managed by BUMD. We will coordinate with DPRD and related parties [...]

Palm Sector Moves, Balel Islands to Establish Palm Oil Factories. `As soon as possible we will build a palm oil processing plant which will be managed by BUMD. We will coordinate with DPRD and related parties beforehand,` said Bangka Belitung Province Governor Erzaldi Rosman in Pangkalpinang, Friday (22/6/2018)Before building the palm oil processing plant, the Bangka Belitung Cooperatives and UMKM Office must list the number of palm oil cooperatives or palm oil farmer groups in the area.`In addition to listing the number of cooperatives and palm oil farmer groups, we also coordinate with farmers to find out their production capacity, both in the good season and the worst season,` he said.Through the Local Government-Owned Enterprise (BUMD), the Bangka Belitung Provincial Government will build a palm oil processing plant capable of processing 15 to 30 tons of palm oil per hour. That way, palm oil farmers will be protected and prosper.According to Erzaldi, the investment for building the plant is yet to be determined. If the investment is insufficient, they will coordinate with the private sector and banks to provide assistance.
Link: http://www.industry.co.id/read/36628/sektor-sawit-bergerak-kepulauan-balel-segera-dirikan-pabrik-sawit

French Farmers Blockade Oil Depot In Palm Oil Protest

12

Jun

French Farmers Blockade Oil Depot In Palm Oil Protest

The heart of the matter is the French government’s policy to allow Total to use palm oil as an ingredient for producing biofuels at its La Mède [...]

French Farmers Blockade Oil Depot In Palm Oil Protest. The heart of the matter is the French government’s policy to allow Total to use palm oil as an ingredient for producing biofuels at its La Mède oil refinery, not far from Marseille.
The policy has sparked a row with rapeseed farmers, who currently supply the biofuel industry, and environmentalists, who are protesting deforestation in Southeast Asia.
The blockade organizers said farmers would stay put for three days until the government ended the use of palm oil at La Mède. “Our target is the government,” and Total’s decision on palm oil was an “outrage”, said Christiane Lambert, head of France’s FNSEA farmers’ union.
French farmers feel undercut because palm oil is currently cheaper than rapeseed oil. High taxes and tight environmental regulations also make it harder for farmers to compete with palm oil producers.
Total says it uses a maximum of 50 percent palm oil and only from certified sustainable sources.
The company, which has invested €275 million ($321 million) to modify its La Mède refinery to handle palm oil, has pledged to buy more rapeseed from local farmers . The La Mède plant can produce up to 500,000 tons of biofuel per year.
Environmental group Rainforest Rescue says that the La Mède refinery will require 650,000 tons of vegetable oils, including 100,000 tons of used cooking oil, 100,000 tons of other vegetable oils similar to palm oil and 450,000 tons of palm oil. That is more than double the amount of palm oil France currently imports.
The standoff in France is the latest in a series of controversies over the use of palm oil in biofuels in Europe. Earlier this year, the European Parliament voted to phase out the use of palm oil in biodiesel by 2020. The decision still needs to be backed by the European Commission and Council before it can come into effect.
The Indonesian government has been lobbying EU member states to oppose the palm oil ban. Jakarta has threatened retaliation, potentially triggering a trade war between the EU and Indonesia. The government has said it could cancel orders for Airbus planes if the EU goes ahead with the ban.
Source :  Tribunnews.com with the title French Farmers Blockade Oil Depot to Protest Palm Oil, http://www.tribunnews.com/internasional/2018/06/11/petani-perancis-blokade-depot-minyak-buat-memrotes-minyak-sawit.

PTPN III Targets Increased Production in 2018

28

May

PTPN III Targets Increased Production in 2018

President Director of the PTPN III state-owned plantation holding company Dolly P. Pulungan stated that the company's production will be positive, [...]

PTPN III Targets Increased Production in 2018. President Director of the PTPN III state-owned plantation holding company Dolly P. Pulungan stated that the company's production will be positive, with CPO production increasing from 2.3 million tons last year to 2.7 million tons. Sugar production will increase by 100,000 tons to 800,000 tons.
Rubber is targeted to reach 115,000 tons, tea at 20,000-30,000 tons and for other commodities will increase by an average 5,000 tons.
`Revenue target at IDR 40 trillion in 2018 and net income target at IDR 2.5 trillion,` Dolly explained during the working visit of the Minister of State-Owned Enterprises (BUMN) in Ranca Bali, Ciwidey, Saturday (26/5).
According to him, thanks to the Ministry of BUMN's theme towards one vision, one country, and one family, internal synergy has been carried out within PTPN in which rotation of General Managers within the company has taken place in order to increase the experience and performance of state-owned plantation companies.
Not only that, as the BUMN plantation holding company, PTPN III also has the flexibility to disburse funds for PTPN units that are experiencing problems.
For your information, the holding unit's capital expenditure budget is IDR 16 trillion which will be used for plantation production and the construction of a number of new factories for the sugar, rubber, and palm oil sectors.
One of the work plans this year is the realization of a cooking oil factory in Sei Mangkei which he targets to be operational in June and produce up to 500,000 tons of cooking oil.
`Then next year Sei Mangkei's natural gas will also go into production, and we will also be producing olein there,` Dolly explained.
He continued, with the entry of the State-Owned Plantation Holding into the cooking oil downstream sector, the government's efforts to control commodity prices and ensure availability of stock will be increasingly easier.
Especially considering the large export potential, Dolly admitted that it is now time for BUMN plantations to start looking at developing the downstream side of all plantation commodity lines.
Responding to the work plan of the state plantation holding, Minister of BUMN Rini Soemarno stated that she would continue to monitor its performance, especially considering PTPN's previous record since 2015 in which a loss was recorded in the current year of IDR 1.08 trillion and in 2016 a loss was recorded in the current year of IDR 1.38 trillion.
It was only in 2017 that the PTPN III Holding managed to achieve a profit of IDR 1.2 trillion. `Prior to the end of 2014, PTPN had many problems, now things are good,` Rini said.
 
Source: https://industri.kontan.co.id/news/ptpn-iii-targetkan-peningkatan-produksi-2018

Indonesia third-largest palm oil importer in China

23

May

Indonesia third-largest palm oil importer in China

"(China) quite a lot (absorb palm from Indonesia). If I'm not mistaken, they are the number three (importer). After India, the European Union, and [...]

Indonesia third-largest palm oil importer in China. `(China) quite a lot (absorb palm from Indonesia). If I'm not mistaken, they are the number three (importer). After India, the European Union, and then China,` Oke said to detikFinance, Monday yesterday (05/21/2018).According to him, China's need for palm is still very large.

`(China's need) is still very large, we even hope that China will follow our policy to use biodiesel,` he explained.
He said that if China utilizes fuel mixed with biodiesel more in the country, they will absorb even more palm oil, one of which they import from Indonesia.`If we already have B20 (fuel mixed with 20% biodiesel), in China whether B5 or B what has been started, so the biodiesel can be used to absorb more palm,` he explained.However, from China's plan to increase palm absorption from Indonesia, it is possible there is a reciprocation. But Oke assesses, if there is, it is as a normal bilateral relationship between the two countries.`If there is a reciprocation, it is normal. It is a bilateral relationship. Yes, that will only be a trade relationship,` he added.
It should be noted that China agreed to increase imports of 500,000 tons of Indonesian palm after a meeting between President Jokowi and Chinese PM Li Keqiang, Monday (05/07/2018).`Specifically, PM Li Keqiang agreed to the form of increasing our exports, an additional minimum of 500 thousand tons of palm oil to China,` said Jokowi.
Source : https://finance.detik.com/berita-ekonomi-bisnis/d-4033366/china-pengimpor-sawit-ri-ketiga-terbesar-dunia

23

May

Rubber Slips From High

The price of rubber to be delivered in October 2018, the most active contract at the Tokyo Commodity Exchange (Tocom), fell 0.50% or 1 yen to [...]

Rubber Slips From High.  
The price of rubber to be delivered in October 2018, the most active contract at the Tokyo Commodity Exchange (Tocom), fell 0.50% or 1 yen to a level of 199 yen per kilogram (kg).
Whereas the price of the rubber that is the main material of tire production initially strengthened when it opened with an increase of 0.30% or 0.60 points to the position of 200.60.
On Monday (5/21), rubber ended up increasing by 3.15% or 6.10 points to a level of 200, which is the highest level throughout the term of the contract.
Kei Kobashi, an analyst at Sumitomo Corp., said that the price of rubber had slipped after the rally on Monday’s trading looked excessive if we look at the fundamentals of the rubber.
According to Lekshmi Nair, head of economics and statistics at the International Rubber Study Group, global natural rubber production could increase by 2% in 2018 from the estimate of 13.55 million tons in 2017.
Meanwhile, total consumption, including synthetic rubber, could rise by 3.2% from the estimate of 28.47 tons in 2017.
What also burdened the movement of the price of rubber was that the time of low production in Thailand this month will end. The rubber rally was previously supported by low production in Thailand until May.
Meanwhile, the yen exchange rate today decreased by a small amount of 0.05% or 0.06 points to a level of 111.11 for every US dollar at 14:33 WIB, after having weakened by 0.26% or 0.29 points to a level of 111.05 on Monday’s (5/21) trading.
On the other hand, the price of West Texas Intermediate (WTI) oil for delivery in June 2018 continued to increase by 0.54% or 0.39 points to a level of USD 72.63 per barrel at the New York Mercantile Exchange at 14:22 WIB.
The Movement of the Price of October 2018 Rubber Contract at the Tocom

Date

Price (Yen/Kg)

Change

22/5/2018

199.00

-0.50%

21/5/2018

200.00

+3.15%

18/5/2018

193.90

+2.11%

17/5/2018

189.90

+0.74%

16/5/2018

188.50

+0.21%

source: http://market.bisnis.com/read/20180522/94/798198/harga-karet-tergelincir-dari-level-tertinggi

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