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U.S. dollar pressured lower by Fed minutes

18

Aug

U.S. dollar pressured lower by Fed minutes

Fed officials were divided in July on the timing of an interest rate hike this year, with some urging a move soon given the economy's strong labor [...]

U.S. dollar pressured lower by Fed minutes. Fed officials were divided in July on the timing of an interest rate hike this year, with some urging a move soon given the economy's strong labor market and others preferring to wait until inflation moves toward their target, minutes of the central bank's latest meeting released on Wednesday showed. “Several participants saw recent economic developments as indicating that labor market conditions were at or close to those consistent with maximum employment and judged that recent progress toward the Committee's inflation goal was likely to continue, even with further gradual reduction in the pace of monetary policy accommodation,” the minutes said.The minutes also showed that “a few favored delaying further increases in the federal funds rate until they were more confident that inflation was moving closer to 2 percent on a sustained basis.”“Participants generally agreed that, before taking another step in removing policy accommodation, it would be prudent to gather additional data to assess the underlying momentum in the labor market and in economic activity,” the minutes said.Analysts said the minutes failed to offer any clear signal on the Fed's next move, which weighed on the greenback on Wednesday.The dollar index, which measures the greenback against six major currencies, was down more than 0.14 percent at 94.660 in late trading.In late New York trading, the euro rose to 1.1291 dollars from 1.1275 dollars in the previous session, and the British pound increased to 1.3056 dollars from 1.3036 dollars. The Australian dollar fell to 0.7647 dollar from 0.7698 dollar.The U.S. dollar bought 100.21 Japanese yen, lower than 100.26 yen of the previous session. The U.S. dollar fell to 0.9618 Swiss franc from 0.9621 Swiss franc, and it inched up to 1.2848 Canadian dollars from 1.2844 Canadian dollars, Xinhua reported. (T.A026)
Editor: Ruslan Burhani
http://www.antaranews.com/berita/579329/dolar-as-melemah-tertekan-rilis-risalah-pertemuan-fed

Palm Oil On Local Government Land Harvested By Residents

16

Aug

Palm Oil On Local Government Land Harvested By Residents

The palm oil land had been a long time ago become the regional asset of Siak. The plan was to build a final disposal site (TPA) for rubbish from [...]

Palm Oil On Local Government Land Harvested By Residents. The palm oil land had been a long time ago become the regional asset of Siak. The plan was to build a final disposal site (TPA) for rubbish from three sub-districts, which were Lubuk Dalam, Kerinci Kanan and Koto Gasib.
Since the Siak Regency replaced the land loss, the development of TPA has not yet been implemented.
In spite of the local people having dumped their rubbish to part of the area, the still productive palm oil has been always harvested. Information from local people, the oil palm in the land is harvested at least once a week.
Local people have also been normally dumping their rubbish to the area, besides seeing the people harvesting the oil palm once a week. However, the people did not care about the harvest result which was not submitted to the Siak Regency.
`If dumping the rubbish here, people have done it for a long time, Sir. Whose palm oil is that, we don’t know. We only know that the oil palm is harvested once a week if not mistaken,` Andi, a resident of Lubuk Dalam in the past, said as written by tribunpekanbaru.com.
In the meantime, the Chief of Pasar Kebersihan dan Pertamanan (DPKP) Office, Siak Wan Ibrahim admitted that the land replacement around 10 Ha in Lubuk Dalam had indeed been done for a very long time. However, the land was still under the authority of the regional asset sector, the Income, Finance and Regional Asset Management Office (DPPKAD) of Siak. Until now, he had not seen the land title, except for knowing that the land was intended to build a TPA.(T2)
http://www.bumn.go.id/ptpn5/berita/18084/Sawit%20di%20Lahan%20Pemda%20di%20Panen%20Warga

World oil prices jumped over Saudi minister comments

12

Aug

World oil prices jumped over Saudi minister comments

Oil prices jumped sharply after Saudi Arabian Energy Minister Khalid al-Falih said producers could take action to help balance the global oil [...]

World oil prices jumped over Saudi minister comments. Oil prices jumped sharply after Saudi Arabian Energy Minister Khalid al-Falih said producers could take action to help balance the global oil market.The comments pushed prices up by more than four percent in New York. US benchmark West Texas Intermediate (WTI) crude for September delivery added $1.78 to settle at $43.49 a barrel on the New York Mercantile Exchange, after losing more than a dollar the previous day.Brent crude for October delivery meanwhile gained $1.99 to close at $46.04 a barrel on Londons ICE Futures Exchange. Khalid said members of the Organization of the Petroleum Exporting Countries (OPEC) and non-members will discuss the market situation, including possible action needed to stabilize prices, at an informal meeting September 26-28 in Algeria.Earlier this week, OPEC said in a statement that the members of the group are `in discussions regarding ways and means to help restore stability and order to the oil market.` `The economies of major oil consuming countries are expected to improve which would in turn increase the demand for oil in the coming quarters... oil prices are likely to improve in the latter part of 2016,` Mohammed bin Saleh Al-Sada, Qatars minister of energy and industry and current president of the group, said in the statement. (A026)

Government is still finalizing moratorium on palm oil plantation permit

10

Aug

Government is still finalizing moratorium on palm oil plantation permit

Coordinating Minister for Economic Affairs Darmin Nasution in Jakarta on Tuesday, said the five-year moratorium on oil palm plantation permits is [...]

Government is still finalizing moratorium on palm oil plantation permit. Coordinating Minister for Economic Affairs Darmin Nasution in Jakarta on Tuesday, said the five-year moratorium on oil palm plantation permits is quite complex, because it has a major impact on the community and companies. `What factors should be considered if this moratorium is carried out? How to enforce the law and the homework that must be done,` said Darmin while chairing the continuation of a coordination meeting on the moratorium on oil palm plantation permits. According to him, this plan is still in the finalization process, by considering various suggestions and considerations, before being presented at a cabinet meeting and stipulated as a Presidential Instruction.Minister of Environment and Forestry Siti Nurbaya Bakar said the discussion process on the moratorium on oil palm plantation permits has entered into determining several categories of delays. She ensured this moratorium is aimed at controlling the permit process so that there is no expansion of opening new oil palm plantations, encouraging the rejuvenation of plants, and increasing productivity and downstream development.  Thus, the entrepreneurs must change their mindset from extensification of increasing production through efforts to expand plantation areas, to the intensification of the use of existing land for downstream. Siti, however, stressed one of the cores of this moratorium is to accommodate the needs of small communities that make a living from this horticultural sector to protect them from being marginalized. `The status of the people who earn income from palm oil must be protected, she said. Overall, the moratorium on oil palm plantation permits has the spirit of not giving new permits for the release of forests and peatlands to become oil palm plantations. In addition, this policy is also to provide legal certainty for oil palm plantations, including peoples oil palm plantations that happen to be located in government forest areas.  The government also wants to increase the productivity of oil palm plantations, promote the development of downstream industries, and improve the standards of Indonesian Sustainable Palm Oil (ISPO).
Editor: B Kunto Wibisono
http://www.antaranews.com/berita/577750/pemerintah-masih-finalisasi-moratorium-izin-perkebunan-sawit

Palm oil plantation moratorium, Ministry of Industry encourages productivity

10

Aug

Palm oil plantation moratorium, Ministry of Industry encourages productivity

"There will be a moratorium for oil palm lands, the Industry Ministry will encourage productivity of existing lands to increase production," said [...]

Palm oil plantation moratorium, Ministry of Industry encourages productivity. `There will be a moratorium for oil palm lands, the Industry Ministry will encourage productivity of existing lands to increase production,` said Industry Minister Airlangga Hartarto in Jakarta, Tuesday.Furthermore, Airlangga continued, the Industry Ministry will also encourage added value of the product, for example Crude Palm Oil (CPO) to its derivative products. `So, we are increasing production by increasing productivity from plantation to downstream. We even encourage green products. So, of course its derivative products are also environmentally friendly,` Airlangga said.It is known that President Joko Widodo said that the government will temporarily stop or have a moratorium for oil palm land concession in several provinces. President Jokowi explained that oil palm plants take too long to produce because farmers have not used good seedlings and because of the delay in replanting the trees.
Editor: Ruslan Burhanihttp://www.antaranews.com/berita/577713/moratorium-lahan-sawit-kemenperin-dorong-produktivitas

PT RNI and PTPN Asked to Accelerate the Importation of 114,000 Tons of Raw Sugar

09

Aug

PT RNI and PTPN Asked to Accelerate the Importation of 114,000 Tons of Raw Sugar

Impor raw sugar atau gula mentah sebanyak 114.000 ton sebelumnya telah dikeluarkan Kemenperin untuk lima BUMN yakni, PT Rajawali Nusantara Indonesia [...]

PT RNI and PTPN Asked to Accelerate the Importation of 114,000 Tons of Raw Sugar. Impor raw sugar atau gula mentah sebanyak 114.000 ton sebelumnya telah dikeluarkan Kemenperin untuk lima BUMN yakni, PT Rajawali Nusantara Indonesia (RNI), PTPN IX, PTPN X, PTPN XI, dan PTPN XII.
Panggah mengatakan, salah satu upaya untuk menurunkan harga gula pasir yang saat ini menembus Rp 16.000 per kilogram (kg) adalah dengan menambah pasokan.
`Ya rekomendasi yang sudah kita keluarkan itu, segera direalisasikan. Ini belum banyak yang terealisasi,` kata Panggah ditemui usai rapat koordinasi di Kantor Kementerian Koordinator Bidang Perekonomian, Jakarta, Selasa (26/7/2016).
Memang diakui Panggah, saat ini sangat susah untuk mencari pasokan raw sugar dikarenakan produksi dunia menurun akibat perubahan iklim La Nina.
Negara-negara pemasok raw sugar seperti Thailand dan Brazil pun mengalami penurunan produksi.
Akibatnya, harga raw sugar juga mengalami peningkatan sekitar 25-28 persen per tonnya.
Karena itu Panggah berharap agar BUMN yang sudah mengantongi rekomendasi impor bisa merealisasikannya sebelum September 2016.
`Tadi kan pak Menko berharap agar harga gula pasir ini bisa Rp 12.500 per kg di akhir tahun,` pungkas Panggah.
Sumber:http://bisniskeuangan.kompas.com/read/2016/07/26/160621826/pt.rni.dan.ptpn.diminta.percepat.realisasi.impor.114.000.ton.raw

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