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Oil Prices Rise On OPEC Deal Expectations

20

Sep

Oil Prices Rise On OPEC Deal Expectations

Oil prices found support as Venezuelan President Nicolas Maduro said Sunday that OPEC and non-OPEC countries were close to an agreement to stabilize [...]

Oil Prices Rise On OPEC Deal Expectations. Oil prices found support as Venezuelan President Nicolas Maduro said Sunday that OPEC and non-OPEC countries were close to an agreement to stabilize the oil market.Venezuelan Oil Minister Eulogio Del Pino said Monday that global oil supply needed to be reduced by one million barrels per day to match consumption.OPEC members and Russia are scheduled to meet on the sidelines of the International Energy Forum in Algeria from September 26 to 28.Oil prices were also supported as a weaker U.S. dollar boosted investor sentiment, making the dollar-priced commodity more attractive to holders of other currencies.The dollar index, which measures the greenback against six major currencies, fell 0.26 percent to 95.859 in late trading Monday.U.S. benchmark West Texas Intermediate (WTI) crude for October delivery added 0.27 U.S. dollar to settle at 43.30 U.S. dollars a barrel on the New York Mercantile Exchange.Meanwhile, Brent crude for November delivery increased 0.22 U.S. dollar to close at 45.95 U.S. dollars a barrel on the London ICE Futures Exchange. 
Editor: Ade Marboen
http://www.antaranews.com/berita/585303/harga-minyak-naik-didorong-ekspektasi-kesepakatan-opec

19

Sep

Pasarprodukbumn.com, RNI's "E-Commerce" Portal for BUMN's Products

President Director of RNI, Didik Prasetyo, explained that pasarprodukbumn.com is a promotional place and selling facility online for products from [...]

Pasarprodukbumn.com, RNI's "E-Commerce" Portal for BUMN's Products. President Director of RNI, Didik Prasetyo, explained that pasarprodukbumn.com is a promotional place and selling facility online for products from state-owned enterprises (BUMN). `Through pasarprodukbumn.com, the whole world can see products from BUMN in Indonesia, and can do online transactions with BUMN that are listed on the website,` Didik said on the RNI Office, Jakarta, Monday (09/19/2016).
Didik said that management of this e-commerce will be given to the subsidiary of RNI, namely PT Rajawali Nusindo. RNI also partnered with Bank BNI to support payment transactions on pasarprodukbumn.com.
As for goods delivery, RNI is partnering with BUMN shipment companies & logistics such as PT Bhanda Ghara Reksa (Persero) and PT Pos Indonesia (Persero).
Didik revealed that as many as 24 BUMN from various industries have joined to sell their products on pasarprodukbumn.com.
Some of the BUMN include pharmaceutical industries, PT Phapros and PT Indofarma, plantation industry, namely PT PTPN VIII, PT Perhutani, PT RNI, and maritime industry, namely PT PAL.
As for flight industry, there are PT Garuda Indonesia (Persero) Tbk and PT Citilink Indonesia, and banking industry, there are BNI, BRI, and Mandiri.
Didik also said that on this e-commerce, not only BUMN products are sold, but also products from the guided partners of Small Medium Enterprises (SME).
`The potential of this guided partner is huge. The whole BUMN in 2016 is estimated to have had 92,372 guided partners, with the amount of aid given is Rp2.32 trillion,` he ended.
Authors

: Achmad Fauzi

Editor
: Aprillia Ika

http://bisniskeuangan.kompas.com/read/2016/09/19/105636026/pasarprodukbumn.com.portal.e-commerce.rni.untuk.produk.bumn

Ask Prices for Benchmark in Palm Producing Districts

13

Sep

Ask Prices for Benchmark in Palm Producing Districts

The farmers therefore asked for the benchmark price of Fresh Fruit Bunches (FFB) to only be set in palm oil producing districts. Not anymore in the [...]

Ask Prices for Benchmark in Palm Producing Districts. The farmers therefore asked for the benchmark price of Fresh Fruit Bunches (FFB) to only be set in palm oil producing districts. Not anymore in the provincial level
`So far the benchmark price of FFB is indeed determined at the provincial level. But in practice in the field, there are always differences in price of up to IDR500/kg. This had been very detrimental to farmers,` said Secretary General of the Indonesian Oil Palm Farmers Association (Apkasindo) Asmar Arsjad on Friday (9/9) in Medan.
The setting of the benchmark price in the area, said Asmar, had actually been conveyed to the government. But their reply was unclear, resulting in the benchmark FFB price still being determined at the provincial level to date
This actually is quite detrimental to farmers because price could not be determined based on production in the palm oil producing areas but, rather, by capital owners accommodating farmers' FFB.
Asmar exemplified that this week the FFB benchmark price was set at IDR1.950/kg. But farmers only received the price of IDR1.500/kg.
The difference amounting to IDR450/kg certainly made farmers incurred losses, especially since production was not very good. `The government is expected to consider the setting of the benchmark price in the district level,` he said
The Head of Apkasindo Simalungun Kamaludin Purba said the benchmark FFB price was indeed always determined by the related departments every Wednesday of the week in the province. But, since there were many agents or delivery holders (OD) the price received by farmers had always been below the benchmark price.
The Palm Oil Mill (PKS), he said, indeed did not want to directly accept FFB from farmers. The requirement was to go through an OD holder.
`Such a practice has actually been going on for a long time in fact. Farmers are used to it now. Therefore, farmers could only hope for the price to go up, so that they can get more rupiah,` he said. (elvidaris simamora)
http://www.medanbisnisdaily.com/news/read/2016/09/10/256310/harga-patokan-diminta-di-kabupaten-penghasil-sawit/#.V9eOujVna1s

13

Sep

Three Sectors Are Able To Boost Economy

The sectors of agriculture, manufacturing, and trade are expected to be the three main sectors contributing to the growth of Indonesia's economy next [...]

Three Sectors Are Able To Boost Economy. The sectors of agriculture, manufacturing, and trade are expected to be the three main sectors contributing to the growth of Indonesia's economy next year.Senior Deputy Governor of BI Mirza Adityaswara stated that these three sectors are improving and are expected to contribute around 65-70% to Indonesia's economic growth next year. `So if in 2017 we mention that economic growth could be slightly above 5%, it seems quite reasonable,` he said at the Bank Indonesia Building, Thamrin, Jakarta, on Monday (September 12).`If we look at Indonesia's economy sector by sector, there are three main sectors, which are manufacturing, agriculture, and trade. Manufacturing is around 22-24%, agriculture is about 20%, and trade is about 22%. So the three sectors are already around 65 to 70% of (the economy) in Indonesia,` he added.The contribution of the agricultural sector is supported by the increase in prices of various plantation commodities, such as palm oil and rubber, as well as the increase in the harvest of rice crops. `Now the prices of plantation commodities have started increasing. Even though it is not significant, if we look at January until now, what we can say is that the price of palm oil has increased by around 20%,` Mirza explained.He mentioned that the price of rubber has also increased by 20%. Therefore, next year, the price of agricultural commodities is expected to improve and be more stable compared to this year.Meanwhile for manufacturing, Mirza said, this sector is still very much influenced by the stability of the Rupiah exchange rate against the US Dollar. As the manufacturing industry sector relies heavily on imported raw materials. `If yesterday the sector had grown by more than 4% of GDP in the first and second quarters, this was indeed largely helped by the rate being more stable. So our hope is that the stability of the rate remains in the second half of 2016 and in 2017. Well, this will help the growth of the manufacturing sector,` he added.The same thing also applies to the trade sector, which also relies on the stability of the rate, considering there is also an imported component in trade. However, along with improving trade balance in the second quarter of 2016, this means the stability of the rate can continue to be maintained. `So the hope is in 2017, trade which has started to recover in 2016, will continue to improve in 2017,` he concluded. (dtf)
http://www.medanbisnisdaily.com/news/read/2016/09/13/256596/tiga-sektor-mampu-dorong-ekonomi/#.V9eNKDVna1s

Tea, Starbucks' Strategy to Dominate the China and Asia Market

13

Sep

Tea, Starbucks' Strategy to Dominate the China and Asia Market

This is in line with the launch of its new tea line, Teavana, across Asia Pacific. Starbucks, through Teavana, seeks to tap China's lucrative [...]

Tea, Starbucks' Strategy to Dominate the China and Asia Market. This is in line with the launch of its new tea line, Teavana, across Asia Pacific.
Starbucks, through Teavana, seeks to tap China's lucrative market.
Citing Bloomberg on Monday (12/9/2016), China is Starbucks’ fastest growing market. Starbucks opens at least 500 outlets per year in the Middle Kingdom in order to meet their target of 3,400 outlets by 2019.
Starbucks is now eyeing China as a growth momentum, with a potential tea business of 63.2 billion yuan or 9.5 billion US Dollars, or 124.4 trillion Rupiah. This figure is 10 times higher than the market price for coffee in China.
In addition, Starbucks’ newest tea line is also in line with the increasing consumer demand in China for products that promote a healthy lifestyle. Today, the trend towards a healthier lifestyle is also growing very quickly throughout Asia.
Matthew Crabbe, head of research for Mintel Group Ltd's Asia Pacific, said that there was a strong identity regarding tea in Asia and that it was also in line with Asia's views on maintaining health.
`It goes hand-in-hand with prevention rather than cure, so tea-based products tend to enjoy quite strong growth,” he said.
For your information, Starbucks acquired Teavana in 2012. Soon after, Starbucks then stated that their tea product line was well received in their outlets in the US.
US consumers are also currently seeking out healthy food and drink options, which has driven Starbucks’ tea business to grow by 12 percent and sales of iced tea to increase by 29 percent in 2015.
Whereas in Asia, drinking tea is a habit that has been growing and developing for thousands of years.
In this way, Starbucks must present tea drinks that combine luxury and uniqueness that will attract consumer interest.
`Of course tea has a very mature market in Asia, it’s been happening for thousands of years and we’ve seen the likes of bubble tea being very popular with the younger consumer in Asia in recent years,” Crabbe said.
`But as they get older they’re looking for something a bit more premium and that’s where Teavana fits.”
Author

: Sakina Rakhma Diah Setiawan

Editor
: Aprillia Ika

http://bisniskeuangan.kompas.com/read/2016/09/13/051500926/teh.strategi.starbucks.menguasai.pasar.china.dan.asia

CPO PRICE 13 SEPTEMBER: Fell 1.02%, Ringgit Strengthened

13

Sep

CPO PRICE 13 SEPTEMBER: Fell 1.02%, Ringgit Strengthened

The CPO futures contract for November 2016, the most actively traded contract on Bursa Malaysia, fell 1.02% or 27 points to the level of 2,613 [...]

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