Latest News: Page 95

10

May

U.S. dollar rises on Fed comments

Federal Reserve Bank of Chicago President Charles Evans said Monday that the U.S. economic fundamentals are solid and growth should accelerate to [...]

U.S. dollar rises on Fed comments. Federal Reserve Bank of Chicago President Charles Evans said Monday that the U.S. economic fundamentals are solid and growth should accelerate to around 2.5 percent for the rest of this year, adding that the unemployment rate will likely fall to 4.75 percent.He also indicated that the Fed's current `wait-and-see` approach to policy is appropriate.`Continued patience in the monetary policy response is appropriate to ensure that economic growth remains on track, the labor market continues to strengthen, wages begin to rise further, and that all of this supports a continued increase in currently low inflation back up to our two percent objective,` Evans said.The dollar index, which measures the greenback against six major currencies, rose 0.27 percent to 94.141 in late trading.In late New York trading, the euro fell to 1.1388 U.S. dollars from 1.1394 U.S. dollars in the previous session, and the British pound decreased to 1.4407 U.S. dollars from 1.4418 U.S. dollars. The Australian dollar dropped to 0.7317 U.S. dollar from 0.7361 U.S. dollar.The U.S. dollar bought 108.45 Japanese yen, higher than 107.12 yen of the previous session. The U.S. dollar decreased to 0.9709 Swiss franc from 0.9720 Swiss franc, and it was up slightly to 1.2976 Canadian dollars from 1.2938 Canadian dollars, Xinhua reported.
Editor: Adicah Nugrahani
http://www.antaranews.com/berita/559833/dolar-as-menguat-didukung-komentar-pejabat-fed?utm_source=topnews&utm_medium=home&utm_campaign=news

CPO PRICE MAY 9: Soars 1.26% Amid Strengthening Crude Oil Prices

09

May

CPO PRICE MAY 9: Soars 1.26% Amid Strengthening Crude Oil Prices

The CPO futures for July 2016, the most active contract in Bursa Malaysia, opened with a significant gain of 1.18% or 31 points at the price of 2,659 [...]

CPO PRICE MAY 9: Soars 1.26% Amid Strengthening Crude Oil Prices. The CPO futures for July 2016, the most active contract in Bursa Malaysia, opened with a significant gain of 1.18% or 31 points at the price of 2,659 per ton in the early trading.
The price of the commodity then sharply increased 1.26% or 33 points to 2,661 ringgit per ton at 10.09 WIB.
At the trading on Friday (6/5/2016), CPO closed with a slight weakening of 0.04% or 1 point to 2,628 ringgit per ton, continuing the weakness in the morning.
The strengthening of the crude palm oil (CPO) price in the early trading is in line with the surge in the crude oil price this morning.
The price of WTI oil for the June contract is significantly up 1.90% to US$45.51 at 10.05 WIB, while the European benchmark for Brent oil for the July contract strengthens 1.37% to US$45.99 per barrel.
Meanwhile, the ringgit exchange rate is seen strengthening in the Asian spot market against the US dollar. The Malaysian currency is appreciated 0.10% to 4.00 ringgit per US dollar.
Price Movement for CPO Contract July 2016

Date

Level

Change

9/5/2016(10.09 WIB)
2.661
+1,26%

6/5/2016

2.628

-0,04%

5/5/2016

2.629

+0,50%

4/5/2016

2.616

+3,03%

3/5/2016

2.539

-2,08%

Source: Bloomberg 
Editor : Bunga Citra Arum Nursyifani http://market.bisnis.com/read/20160509/94/545323/harga-cpo-9-mei-melesat-126-seiring-penguatan-harga-minyak-mentah

Today Stock Analyst Discusses Subsidies for Biodiesel

04

May

Today Stock Analyst Discusses Subsidies for Biodiesel

Besides, the subsidy for biodiesel program has continued to soar from Rp 2,900/liter in the beginning of this year to Rp 5,500/liter in May. As a [...]

Today Stock Analyst Discusses Subsidies for Biodiesel. Besides, the subsidy for biodiesel program has continued to soar from Rp 2,900/liter in the beginning of this year to Rp 5,500/liter in May. As a result, the Management Agency for Palm Oil Plantation Fund (BPDPKS) has to prepare alternative strategies for searching additional fund if there is any deficit.
In the meantime, the palm oil fund that has been collected is around Rp 15.87 trillion (including the palm oil fund collection projection this year Rp 9.5 trillion) which is estimated to only be enough for subsidizing the biodiesel for 8-10 months.
It is estimated that the decline of crude oil price by US$ 1 per barrel can increase the additional need for biodiesel subsidy fund by around Rp 350 billion. In the meantime, the increase of crude palm oil (CPO) by US$ 1/ton requires an additional fund of around Rp 38 billion.
Up to now, the oil price is in the increasing trend but the crude palm oil price is also in the increasing trend so it is feared that the subsidy will continue to soar.
“The issuer that will be affected the most by the implementation of the biodiesel program is AKRA because the issuer is one of the main vendors for subsidized fuel,” HP Analytics wrote in its research that was received today, Wednesday (4/5/2016).

Editor : Linda Teti Silitonga

http://market.bisnis.com/read/20160504/191/544517/hari-ini-analis-saham-bahas-subsidi-untuk-biodiesel

CPO PRICE MAY 04: Rebounded In The Early Trade, Up By 0.32%

04

May

CPO PRICE MAY 04: Rebounded In The Early Trade, Up By 0.32%

The July 2016 CPO futures contract, the most actively traded contract on Bursa Malaysia, opened up 0.32% or 8 points at a price of RM2,547 per ton at [...]

CPO PRICE MAY 04: Rebounded In The Early Trade, Up By 0.32%. The July 2016 CPO futures contract, the most actively traded contract on Bursa Malaysia, opened up 0.32% or 8 points at a price of RM2,547 per ton at the start of trading.
The price of the commodity rose slightly by 0.04% or 1 point to RM2.540 per ton at 09.59 WIB. The price of CPO successfully rebounded this morning after a continuous decline for the past four trading days.
Yesterday (Tuesday, May 3, 2016), the price of CPO closed significantly down 2.08% or 54 points to RM2,539 per ton, continuing the decline in the morning.
Meanwhile, the ringgit exchange rate was seen to weaken against the US dollar in the Asian spot market. The Malaysian currency depreciated sharply by 1.16% to RM3.98 per US dollar.
As reported by Bloomberg today, the Malaysian ringgit fell to a two-month low following a statement by President of the Federal Reserve Bank of Atlanta Dennis Lockhart, who indicated the certainty of an interest rate increase in June.
The statement triggered the rebound of the US dollar from its lowest level with the increase of the Bloomberg Dollar Spot Index from its lowest level in a year.
Price Movements of July 2016 CPO Contract

Date

Level

Change

May 4, 2016(09.59 WIB)
2,540
+0.04%

May 3, 2016

2,539

-2.08%

Source: Bloomberg

Editor: Bunga Citra Arum Nursyifani
http://market.bisnis.com/read/20160504/94/544526/harga-cpo-4-mei-rebound-di-awal-dagang-menguat-032

02

May

CPO reimposed export charge in May 2016

"The current CPO reference price is above the threshold for the first time since October 2014 that is at the level of US$750. Hence the government [...]

CPO reimposed export charge in May 2016. `The current CPO reference price is above the threshold for the first time since October 2014 that is at the level of US$750. Hence the government imposes the CPO Export Tax of US$3/MT for the period of May 2016,` Acting Director General of Foreign Trade at the Trade Ministry, Karyanto Suprih, said in a press release received on Sunday. The CPO price has increased by US$71.78 or 10.52 percent from April 2016 which was at 682.32 per MT. The stipulation is stated in the Trade Minister Regulation Number 29/MDAG/PER/4/2016 on the Stipulation of Export Reference Price (HPE) on Agricultural and Forestry Products Subject to Export Tax. `HPE and reference price for the period of May 2016 is stipulated after the development of the commodity price, both nationally and internationally,` Karyanto said. Karyanto explained that the increase in the current CPO reference price is due to the strengthening international price for the commodity. The CPO Export Tax for May 2016 is stated in Column 2, attachment of PMK 136 Year 2015, at US$3/MT, has shifted 1 column from the period of April 2016 of US$0/MT.  Meanwhile, the reference price for cocoa beans in May 2016 has weakened by US$41.91 or 1.4 percent that is from US$2,992.02/MT to US$2,950.11/MT, resulting in the establishment of HPE for cocoa beans that also experienced decline of US$41 or 1.5 percent from US$2,692/MT in the period of April to US$2,651/MT. The decline in reference price and HPE for cocoa beans was caused by decreasing international price of the commodity. However, the Export Tax for cocoa beans remains unchanged from the previous period, which is at 10 percent and stated in Column 3, attachment II PMK 75 Year 2012. No changes occurred in HPE and Export Tax for timber and leather products from the previous period. 
Editor: Ruslan Burhanihttp://www.antaranews.com/berita/558286/cpo-kembali-dikenakan-bk-pada-mei-2016

Coconut oil and granulated sugar prices soar in Ternate

02

May

Coconut oil and granulated sugar prices soar in Ternate

"Ternate city government should stabilize the price of these basic necessities which keep on soaring," said a trader, Rahmat, in Ternate, Sunday. [...]

Coconut oil and granulated sugar prices soar in Ternate. `Ternate city government should stabilize the price of these basic necessities which keep on soaring,` said a trader, Rahmat, in Ternate, Sunday. Even in some traditional markets in the city of Ternate as in Bastiong Inpres, the price of granulated sugar which previously Rp14,000/Kg rose to Rp16,000/Kg. Meanwhile, coconut oil Rp14,000/Kg soars to Rp18,000/Kg. The traders argue that the soaring price of the two basic necessities is because the distributors increased the price followed by the retailers to gain some profit Rahmat admitted he had to sell a little bit more expensive to prevent losses particularly when there is a soaring price of the commodities from the distributors.  We took the commodity from the distributors at the price of bulk coconut oil in a 25-liter jerrycan, currently Rp235,000. However last week the price was just Rp230,000/jerrycan. Meanwhile, the price of 50 Kg granulated sugar previously Rp655,000, currently rose to Rp665,000. Head of the Industry and Trade Agency Maluku Utara, Asrul Gailea, said the high price of goods in this area has nothing to do with the increase or decrease of fuel prices. `The supply is relatively limited and ahead of the fasting month of Ramadhan so the price of basic necessities soars,` he remarked Also, speculations from the middle man caused significant increase in the price of goods taking advantage of the condition that Maluku Utara is an archipelago using ships to transport goods from the production center.
Editor: Ruslan Burhani
http://www.antaranews.com/berita/558300/harga-minyak-kelapa-dan-gula-pasir-melonjak-di-ternate

Latest News