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CPO PRICE ON MAY 26: Closing with 1.38% Surge, Driven by Global Oil Prices

26

Jul

CPO PRICE ON MAY 26: Closing with 1.38% Surge, Driven by Global Oil Prices

August 2016 CPO futures, the most active contract on Bursa Malaysia, opened 0.24% or 6 points higher this morning at MYR2,551 per ton and was still [...]

CPO PRICE ON MAY 26: Closing with 1.38% Surge, Driven by Global Oil Prices. August 2016 CPO futures, the most active contract on Bursa Malaysia, opened 0.24% or 6 points higher this morning at MYR2,551 per ton and was still seen moving at the same level at 09:57 WIB.
After moving in the range of MYR2,545-2,595 per ton, the commodity price closed 1.38% higher at MYR2,580 per ton.
In the previous trading of Wednesday (25/5/2016), the CPO price closed with a sharp increase of 1.72% or 43 points to MYR2,545 per ton, after opening with a stagnant movement.
The strengthening of the palm oil price in the beginning of today's trading is in line with the global crude oil price surge since last night approaching the range of US$50 which has also driven the commodity movement.
August 2016 CPO Contract Price Movement

Date

Level

Change

26/5/2016

2,580

+1,38%

25/5/2016

2,545

+1,72%

24/5/2016

2,502

+0,40%

23/5/2016

2,492

-1,42%

20/5/2016

2,528

+0,36%

Source: BloombergEditor : Bunga Citra Arum Nursyifani http://market.bisnis.com/read/20160526/94/551723/harga-cpo-26-mei-ditutup-melonjak-138-terpacu-harga-minyak-global

Oil prices continued to drop as supplies abound

26

Jul

Oil prices continued to drop as supplies abound

The US benchmark, West Texas Intermediate (WTI) for September delivery, tumbled $1.06 to $43.13 a barrel on the New York Mercantile Exchange, the [...]

Oil prices continued to drop as supplies abound. The US benchmark, West Texas Intermediate (WTI) for September delivery, tumbled $1.06 to $43.13 a barrel on the New York Mercantile Exchange, the lowest level in three months. In London, North Sea Brent for September delivery hit its lowest level since May, losing 97 cents to settle at $44.72 a barrel on the Intercontinental Exchange. `You are really getting the hangover from last week's EIA inventory report,` said Bob Yawger of Mizuho Securities, referring to weekly figures released by the US Energy Information Administration (EIA). The EIA reported last week that US crude oil stockpiles fell by a less-than-expected 2.3 million barrels, while gasoline supplies surged during the US peak summer driving season. The EIA's weekly report showed that US gasoline inventories jumped by a surprise 911,000 barrels last week, hitting their highest level since April. `Gasoline is just so oversupplied right now, it's hard to make a bullish case as long as that is the case.` Analysts said the strong dollar was also weighing on demand for oil futures, as it makes the commodity more expensive for holders of other currencies.  A rise in the number of active US crude rigs has also fuelled market concerns that the global supply glut will persist.Oilfield services company Baker Hughes said Friday that the number of rigs drilling for oil in the United States rose by 14 to 371 in the week ending July 22, the fourth straight weekly increase.  
Editor: Ade Marboen
http://www.antaranews.com/berita/575025/harga-minyak-terus-menurun-karena-persediaan-berlimpah?utm_source=topnews&utm_medium=home&utm_campaign=news

Sugarcane Waste Utilized, Kediri Islamic Boarding School Sugarcane Factory Start Selling Electricity to PLN

25

Jul

Sugarcane Waste Utilized, Kediri Islamic Boarding School Sugarcane Factory Start Selling Electricity to PLN

Electricity is produced using a Biomass Power Plant (PLTBm) that uses sugarcane waste. "Three days ago, we signed an electricity sales agreement with [...]

Sugarcane Waste Utilized, Kediri Islamic Boarding School Sugarcane Factory Start Selling Electricity to PLN. Electricity is produced using a Biomass Power Plant (PLTBm) that uses sugarcane waste.
`Three days ago, we signed an electricity sales agreement with PLN. This is the first time in Indonesia that a sugar factory has sold electricity,` said the Director of PTPN X Subiyono on Saturday (23/7/2016).
Electricity from the sugar factory will be connected to PLN's electrical interconnection system.
`The connecting infrastructure is being built now. In September, the interconnection to the PLN network will be complete,` he added.
Initially, only 3 megawatts of electricity will be sold to PLN. This volume is more than the total electricity produced which is 9 megawatts.
6 megawatts of it is used for the sugar factory's electrical needs. PTPN XI said that it is preparing to produce electricity from sugarcane waste at several other sugar factories, such as the Ngadiredjo Kediri sugar factory (20 megawatts), the Cukir Jombang sugar factory (10 megawatts), and the Gempolkrep Mojokerto sugar factory (20 megawatts).
Diversifying the sugar factory's business is considered important if the sugar industry in Indonesia wants to continue to grow.
`It is impossible to rely only on income from sugar, because sugar is a commodity whose price is always subject to government intervention,` he said.

Author
: Surabaya Contributor, Achmad Faizal

Editor
: Bambang Priyo Jatmiko

http://bisniskeuangan.kompas.com/read/2016/07/23/114550226/manfaatkan.limbah.tebu.pabrik.gula.pesantren.kediri.mulai.jual.listrik.ke.pln

22

Jul

Sugar prices increase post-Eid al-Fitr

"This is the highest price of sugar, particularly after Idul Fitri holiday. Currently there is no significant supply of sugar to the market, [...]

Sugar prices increase post-Eid al-Fitr. `This is the highest price of sugar, particularly after Idul Fitri holiday. Currently there is no significant supply of sugar to the market, including imported sugar by state logistics company Perum Bulog, so prices are still high,` Chairman of the Indonesian Market Traders Association (IKAPPI), Abdullah Mansuri, stated when contacted by Antara, Thursday. Abdullah Mansuri noted that the price of white sugar currently ranges between Rp16,500 per kilogram at the trader level, while the imports by state logistics company Perum Bulog are deemed insufficient to reduce sugar prices in traditional markets. According to Abdullah, Indonesia has currently entered the grinding season, which means that the supply of sugar for consumers should increase and prices in the market should start to decline. However, even though demand has fallen since D plus 7 of Idul Fitri, the price of granulated sugar has not declined but rather increased. `If farmers' sugar enters the market, coupled with imported sugar from Bulog, the price should be lowered. At the very least, it should be kept at around Rp13,000 per kilogram. This is an indication that Bulog is unable to carry out appropriate dissemination or distribution,` Abdullah stated. According to Abdullah, state logistics company Perum Bulog should increase supply for consumers in the market and lower the price of sugar. Moreover, government supervision regarding the price hike of basic commodities, especially sugar, has been deemed minimal and has failed to resolve the root causes that continue to increase commodity prices. Apart from the price of sugar, Abdullah noted that the prices of several other commodities also remained high, including beef and shallots. With regard to beef, the government's move to import was also deemed less appropriate. `The government has not really looked into consumer preferences, as the imported frozen meat is not liked by consumers. Demand for the dish has also not been very high, similar to buffalo meat. Meanwhile, the price of shallots has jumped to Rp40,000 per kilogram, even though there should be a significant decline after Idul Fitri,` Abdullah noted. Some time ago, the government had assigned state logistics company Bulog to import 100,000 tons of granulated crystal sugar (GKP) to reduce market prices. However, the price of granulated sugar for consumers remains high. Based on data from the Ministry of Trade's Basic Necessities Market Monitoring System (SP2KP) on Thursday, the average price of sugar at the national level was around Rp16,269.59 per kilogram, while on the first day of Idul Fitri, the price stood at Rp16,053.92 per kilogram. Meanwhile, the price of shallots has risen quite high. On the first day of Idul Fitri, the price was around Rp40,607.84 per kilogram, while currently it has reached Rp42,977.72 per kilogram, an increase of 5.83 percent. When compared to the price two weeks before Idul Fitri, the increase has reached 16.11 percent from Rp37,031.15 per kilogram on Wednesday (June 22). As for beef, the price is currently at Rp115,143.77 per kilogram, although the government is targeting a price reduction to reach Rp80,000 per kilogram.
Editor: Ruslan Burhanihttp://www.antaranews.com/berita/574345/harga-gula-pasir-naik-pasca-lebaran

US dollar firms on rate hike expectations

21

Jul

US dollar firms on rate hike expectations

The US Commerce Department reported Tuesday that private sector housing starts in June were at a seasonally adjusted annual rate of 1.189 million [...]

US dollar firms on rate hike expectations. The US Commerce Department reported Tuesday that private sector housing starts in June were at a seasonally adjusted annual rate of 1.189 million units, 4.8 percent above the revised May estimate. The latest reading also beat market consensus of 1.170 million units. The US Commerce Department also announced on Friday that the advance estimate of retail and food services sales for June rose 0.6 percent from the previous month to 457.0 billion US dollars, beating market consensus of a 0.1 percent increase. The dollar index, which tracks the greenback against six major currencies, increased 0.10 percent to 97.161 in late trading Wednesday, the highest level in four months. In late New York trading, the euro fell to 1.1005 dollars from 1.1012 dollars in the previous session, and the British pound rose to 1.3148 dollars from 1.3092 dollars. The Australian dollar decreased to 0.7475 dollar from 0.7505 dollar. The US dollar bought 106.86 Japanese yen, higher than 106.04 yen of the previous session. The US dollar rose to 0.9875 Swiss franc from 0.9858 Swiss franc, and it edged up to 1.3062 Canadian dollars from 1.3034 Canadian dollars, Xinhua reported. (X.A026)
Editor: Ruslan Burhanihttp://www.antaranews.com/berita/574214/dolar-as-menguat-didorong-ekspektasi-kenaikan-suku-bunga

Palm Oil Prices Drop Again in Riau, Here are the Latest Figures

20

Jul

Palm Oil Prices Drop Again in Riau, Here are the Latest Figures

"This decline is not expected to last. As the market balances, it turns out that increasing crude oil prices have also contributed to pressing CPO [...]

Palm Oil Prices Drop Again in Riau, Here are the Latest Figures. `This decline is not expected to last. As the market balances, it turns out that increasing crude oil prices have also contributed to pressing CPO price to reach its lowest position in the last four months,` said the Secretary for Determining Oil Palm Fresh Fruit Bunch Prices at Riau Plantation Agency, Rusdi, Tuesday (19/7/2016) in Pekanbaru. Here is the determinant for Oil Palm Fresh Fruit Bunch Prices in Riau Province, Number 28, period of July 20 to 26 2016: Age 3 years IDR1,212.93, Age 4 years IDR1,353.16, Age 5 years IDR1,447.44, Age 6 years IDR1,491.19, Age 7 years IDR1,547.76, Age 8 years IDR1,596.10, Age 9 years IDR1,648.08, Age 10 years up to 20 years IDR1,693.40, Age 21 years IDR1,654.12, Age 22 years IDR1,614.21, Age 23 years IDR1,574.94, Age 24 years IDR1,559.10, Age 25 years IDR1,495.76 "Index K 91.06 percent, CPO price IDR6,956.64. Kernel price IDR6,632.63. The price has decreased by IDR 71.97 per kilogram for age 10-20 years,` he ended. Editor: Rio Kasairy
http://faktariau.com/mobile/detailberita/9934/harga-sawit-riau-kembali-turun-berikut-harganya

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