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Palm Oil Exports Decline Sharply in February Amid Coronavirus Outbreak

26

Mar

Palm Oil Exports Decline Sharply in February Amid Coronavirus Outbreak

"Palm oil export which has been the biggest contributor, in February 2020, the realization was only 84,000 tons. In the same period in 2019, it [...]

Palm Oil Exports Decline Sharply in February Amid Coronavirus Outbreak. "Palm oil export which has been the biggest contributor, in February 2020, the realization was only 84,000 tons. In the same period in 2019, it reached 371,000 tons," said Minister of Agriculture Syahrul in a Hearing Meeting at Commission IV of the House of Representatives (DPR) Jakarta, Monday (17/2/2020).
Palm oil export data in February 2020 was recorded only at 84,000 tons, plummeted around 77.27 percent compared to the same month in 2019 which was 371,000 tons. Compared to data from the previous month, palm oil export in February 2020 drastically decreased by 82.56 percent from the January 2020 export realization of 483,000 tons.

https://www.inews.id/finance/makro/akibat-virus-korona-ekspor-kelapa-sawit-pada-februari-turun-tajam
However, on a year on year basis, January 2020 export increased by 3 percent from January 2019 which was recorded at 469,000 tons. Therefore, the Ministry of Agriculture strives to anticipate the decline in agricultural export to China by seeking and utilizing other markets that are also potential.
"Ministry of Agriculture strives to anticipate the decline in agricultural export to China through coordination with exporters to utilize alternative export markets such as India, Middle East, and Russia," said Syahrul.
Meanwhile, export decline to China also happened in other plantation commodities, such as coconut that dropped by 4.71 percent from 24,000 tons in January 2020 to 23,000 tons in February 2020.
Other plantation commodities fell by 46.46 percent from 42,000 tons in January 2020 to 22,000 tons in February 2020. In total, plantation commodities in February 2020 compared to January 2020 dropped by 74.17 percent, while that of February 2020 compared to February 2019 decreased by 65.26 percent.

Bank Muamalat and INACOM Collaborate on the First Sharia Hedging Facility in Indonesia

05

Dec

Bank Muamalat and INACOM Collaborate on the First Sharia Hedging Facility in Indonesia

This Sharia hedging is a transaction that is carried out based on the Sharia Principles in order to mitigate the risk of changes in exchange rate for [...]

Bank Muamalat and INACOM Collaborate on the First Sharia Hedging Facility in Indonesia. This Sharia hedging is a transaction that is carried out based on the Sharia Principles in order to mitigate the risk of changes in exchange rate for certain currencies in the future according to DSN MUI Fatwa No. 96/DSN-MUI/IV/2015 on Sharia Hedge Transactions (Al Tahawwuth Al-Islami) in Exchange Rates.Chief of Corporate Banking Officer of Bank Muamalat Irvan Yulian Noor said that the cooperation of hedging facility that uses the sharia principles is the first time that it is carried out by a sharia bank in Indonesia. This shows that treasury products of Bank Muamalat are very diverse and are able to accommodate the business needs of customers, especially in foreign exchange transactions.`We hope that this cooperation may strengthen the brand awareness of Bank Muamalat and will have a positive impact on the growth of funding and fee based income, and contribute to positive growth of new customers of the company,` he said in the signing ceremony of PKS on Thursday, December 5, 2019 at Muamalat Tower, Jakarta.Finance & General Director of INACOM, Heryanto Eko Purnomo, said that this cooperation shows the commitment of INACOM to grow and expand the market share, particularly in export markets, such as the Middle East, South Asia, Central Asia, and Africa. Various leading plantation commodities of Indonesia have become export sources in the trade business sector with a significant contribution of foreign exchange for Indonesia. `With the support and trust from the banking industry, it is expected that it will drive the achievement of the business performance of INACOM in accordance with the business target and support the growth of the entire market share of PTPN Group,` he said.

Anniversary of 1 Decade of PT KPBN (INACOM)

21

Nov

Anniversary of 1 Decade of PT KPBN (INACOM)

Entering into our second decade is a long journey, one that is worth appreciating. A company that has renewed itself, with a vision and a mission [...]

Anniversary of 1 Decade of PT KPBN (INACOM). Entering into our second decade is a long journey, one that is worth appreciating. A company that has renewed itself, with a vision and a mission that motivates us to work harder and innovate.The syukuran event of PT KPBN INACOM's anniversary was attended by the Marketing Director of Holding Perkebunan Nusantara PTPN III Persero, the Board of Directors of PT KPBN, retired employees, and all employees of PT KPBN.In his speech, Edward S Ginting, President Director of PT KPBN, said that the company is currently on the rise, working with all levels of employees to achieve the highest targets ever set before. We believe that we will be even better. Happy 10th birthday to KPBN, may we be even more successful next year. In addition, there was also a speech from the Marketing Director of Holding Perkebunan Nusantara PTPN III (Persero) by Dwi Susanto, a series of thanksgiving events such as prayer readings for the anniversary, tumpeng cutting, inauguration of the INACOM X Anniversary Monument, as well as birthday greetings from employees. , awarding of retirement awards, handover of environmental development assistance for natural disasters in Maluku 2019, and the event was closed with a friendly gathering and a group photo.

President Director of INACOM (PT KPBN) Leads Ceremony to Commemorate Youth Pledge Day £

28

Oct

President Director of INACOM (PT KPBN) Leads Ceremony to Commemorate Youth Pledge Day £

INACOM (PT KPBN) held the 91st Youth Pledge Day Ceremony, Edward S. Ginting President Director of INACOM as the ceremony inspector. The ceremony was [...]

President Director of INACOM (PT KPBN) Leads Ceremony to Commemorate Youth Pledge Day £. INACOM (PT KPBN) held the 91st Youth Pledge Day Ceremony, Edward S. Ginting President Director of INACOM as the ceremony inspector. The ceremony was held in the Office Building of PT KPBN, Jl. Cut Meutia No: 11, Menteng, Central Jakarta on Monday (28/10/2019). The ceremony was attended by all Board of Directors, GMs, Managers, and employees at PT KPBN Head Office. The Reading of the Pancasila Text and the Reading of the Commemorative Speech Text for the 91st Youth Pledge Day of 2019 were read by Edward as the Ceremony Inspector. Edward said that the theme of this year's youth pledge commemoration is 'United We Advance'. According to him, only through unity can the nation's ideals be achieved. `Today's commemoration of the youth pledge takes the theme 'United We Advance' This theme is adopted to reaffirm the commitment that was built by the youth who swore an oath in 1928 in the youth pledge. That only through unity can we realize the nation's ideals,` said Edward. In addition, Director of Sales and Operations, Rahmat Akmal, was tasked with Reading the Text of the Decision of the Indonesian Youth Congress 1928. The following is the text of the Youth Pledge which is also inscribed on the wall of the Youth Pledge Museum: We, the sons and daughters of Indonesia, acknowledge one homeland, the land of Indonesia. Secondly, We, the sons and daughters of Indonesia, acknowledge one nation, the nation of Indonesia. Thirdly, We, the sons and daughters of Indonesia, uphold the language of unity, the Indonesian language.

CWE Palm Oil Polytechnic D1 Graduates Ready to Work

15

Oct

CWE Palm Oil Polytechnic D1 Graduates Ready to Work

Out of 100 participants, around 50% or 54 participants were immediately employed in a national oil palm plantation company, in which 37 were employed [...]

CWE Palm Oil Polytechnic D1 Graduates Ready to Work. Out of 100 participants, around 50% or 54 participants were immediately employed in a national oil palm plantation company, in which 37 were employed in the Citra Borneo Indah Group and around 17 participants were employed in the Bumitama Gunajaya Agro Group.
Director of CWE Oil Palm Polytechnic, Stefanus Nugroho Kristono, said that this year’s education and technical training program for oil palm equivalent to D1 was equipped with work certificates, in which participants, after carrying out field work, would then continue to take competency test.
This is done to ensure that the participants of the Education and Training Program equivalent to D1 at the CWE Oil Palm Polytechnic possess the required competencies in the oil palm plantation sector. This competency test collaborates with the Indonesian Plantation Horticulture Professional Certification Institute (LSP-PHI).
`This competency test is equivalent to the foreman's competence in oil palm plantations, and the results show that all participants passed the competency test,` Nugroho said on the sidelines of the graduation of Batch III, Technical Education and Training Program for Oil Palm Plantations Equivalent to D1, to InfoSAWIT some time ago in Bekasi, West Java. (T2)
Source: InfoSawit.com

Half of 5.1 Million Tons of National Palm Oil Consumption Must Be Packaged

07

Oct

Half of 5.1 Million Tons of National Palm Oil Consumption Must Be Packaged

"The Ministry of Trade is continuously trying to improve the quality and safety of the food consumed, one of which is through the program of [...]

Half of 5.1 Million Tons of National Palm Oil Consumption Must Be Packaged.  `The Ministry of Trade is continuously trying to improve the quality and safety of the food consumed, one of which is through the program of switching bulk cooking oil to packaged cooking oil,` said Enggartiasto Lukita, in an official statement received by InfoSAWIT.
Enggar said the total national production of palm oil per year reached around 14 million tons. Out of that number, the allocation to meet domestic needs is around 5.1 million tons and the rest is for overseas market needs.
`Out of the domestic needs, almost 50 percent is still consumed in the form of bulk cooking oil that is not guaranteed its cleanliness, both from the production and distribution side,` he explained.
The policy to make packaging palm oil cooking oil mandatory is a part of the government's strategic program, namely the program to increase the use of domestic products. This policy is to encourage people to consume packaged cooking oil because its quality and safety is more guaranteed.
This program has been conducted since 2014 through the issuance of the Packaged Cooking Oil policy which started to be enforced on 1 April 2017. However, the implementation of the policy was postponed because cooking oil producers were not ready yet to expand packaging units and boost the packaging industry in the regions.
`In line with the implementation of the Mandatory SNI Cooking Oil, the mandatory policy of packaging palm oil cooking oil will be enforced on 1 January 2020 without any transition period. For that reason, all business entities must sell cooking oil to consumers in a packaged condition and fulfill the applicable requirements,` explained Enggartiasto.
Indonesia is recorded as one of the world's largest producers and exporters of crude palm oil (CPO). However, this needs to be followed by the provision of good quality cooking oil as a derivative product of CPO to fulfill domestic needs. `The fulfillment of this need is expected to be able to counter the negative campaign against Indonesia's CPO products and at the same time can raise the public's love for their own domestic products,` the Minister of Trade continued.
The Minister of Trade hopes national cooking oil producers can prepare the things needed in the implementation of the mandatory cooking oil packaging policy. `We hope Indonesian consumers will use packaged cooking oil from domestic production that is more hygienic and healthy. Also, by using packaged cooking oil, it can raise the nation's status and dignity,` he concluded.
The event was combined with a health walk event and a cooking oil sales bazaar by nine cooking oil producers for Rp 8,000/liter. In addition, there was also a bazaar of UMKM products fostered by the Ministry of Trade. (T2)
Source: Infosawit.com

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