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CPO Prices on December 9 Move Negatively Following a Depreciation in China

09

Dec

CPO Prices on December 9 Move Negatively Following a Depreciation in China

CPO futures on Bursa Malaysia weakened by noon on Friday (09/12). The decline in CPO prices follows a similar decline in competing palm oil in [...]

CPO Prices on December 9 Move Negatively Following a Depreciation in China. CPO futures on Bursa Malaysia weakened by noon on Friday (09/12). The decline in CPO prices follows a similar decline in competing palm oil in China.
Palm Oleins contracts for May 2017 on the Dalian Commodity Exchange slumped -1.37 percent to 6,332.
The most active CPO contract price on the Malaysian exchange today showed weakness. The February 2017 contract, which is the most active, fell by -27 ringgits or -0.9 percent, trading at 3,086 ringgits per tonne.
Vibiz Research Center analyst estimate that the price of CPO futures contracts for future trading will likely weaken, with a potential for further palm oil weakness on the Dalian Commodity Exchange. However, it is worth looking at how rising crude oil prices and a weaker ringgit may strengthen CPO prices.
The CPO futures contract price for February 2017 on the Malaysian exchange is likely to test support at 3,040 ringgits and 2,990 ringgits. Resistance is expected at 3,140 ringgits and 3,190 ringgits.
Freddy/VMN/VBN/Analyst-Vibiz Research Center
Editor: Asido Situmoranghttp://vibizmedia.com/2016/12/09/harga-cpo-9-desember-bergerak-negatif-mengikuti-pelemahan-di-tiongkok/

Tocom Rubber Prices Rise 2 Percent on December 9, Boosted by Weaker Yen and Rise in Oil

09

Dec

Tocom Rubber Prices Rise 2 Percent on December 9, Boosted by Weaker Yen and Rise in Oil

The Japanese yen currency weakened. The USDJPY currency pair traded 0.3 percent stronger at 114.40. The weakening of the yen raised the price of [...]

Tocom Rubber Prices Rise 2 Percent on December 9, Boosted by Weaker Yen and Rise in Oil. The Japanese yen currency weakened. The USDJPY currency pair traded 0.3 percent stronger at 114.40.
The weakening of the yen raised the price of Tocom natural rubber futures. For foreign buyers, the weakening of the yen exchange rate made commodity prices traded in the currency relatively less expensive so that demand increased.
Tocom rubber prices were also supported by the increase in crude oil prices in Asian trading sessions.  
Crude oil prices extended their increase on Friday (December 09) during the Asian session, supported by increasing optimism that non-OPEC producers agreed to cut production following the OPEC group's agreement to limit production.
US crude oil futures for January delivery increased by 16 cents or 0.31 percent to $51.00 per barrel.
Brent crude oil for February delivery remained stable at $53.89 per barrel.
See: Crude Oil Prices During Asian Session Increase Reaching $51
The increase in crude oil prices made the cost of synthetic rubber production more expensive. As a result, demand for natural rubber commodities such as those traded on Tocom increased quite significantly.
The price of natural rubber on Tocom for the most active contract, which is the May 2017 contract, ended at a jump of 5.0 yen or 2.1 percent this afternoon at 245.40 yen per kilogram, up compared to the previous closing position of 240.40 yen per kilogram.
Vibiz Research Center analysts predict that the movement of Tocom rubber prices in subsequent trading today still has the potential to increase with the weakening of the yen and the increase in crude oil prices.
For the subsequent trading session, it is predicted that prices will encounter a resistance level at 250.00 yen. The next resistance is at 255.00 yen. Meanwhile, if prices weaken, they will encounter support at 240.00 yen and 235.00 yen.
Freddy/VMN/VBN/Analyst-Vibiz Research Center Editor: Asido Situmoranghttp://vibizmedia.com/2016/12/09/harga-karet-tocom-9-desember-naik-2-persen-terbantu-pelemahan-yen-dan-kenaikan-minyak/

KPBN – Bank Woori Saudara Sign Cooperation MoU for Financing

06

Dec

KPBN – Bank Woori Saudara Sign Cooperation MoU for Financing

The signing was conducted between Director of SME and Consumer Business Bank Woori Saudara Denny Novisar Mahmuradi and President Director of [...]

KPBN – Bank Woori Saudara Sign Cooperation MoU for Financing. The signing was conducted between Director of SME and Consumer Business Bank Woori Saudara Denny Novisar Mahmuradi and President Director  of PT. KPBN Iriana Ekasari in Jakarta.
The cooperation in the field of use and utilization of Bank Woori Saudara's products by purchasers at PT. KPBN both for cash financing products and non-cash facility as well as funding, especially for Tea commodity purchasers. PT. KPBN's position which has long been known as a world-class plantation commodity sales center has become an attraction for banks to establish cooperation. The transaction value that occurs at PT. KPBN which reaches Rp30 Trillion annually is a delicious cake itself.
`We see that commodity is a very large market. Incidentally, our focus is on SMEs,` said Head of SME & Commercial Division Bank Woori Saudara Dendy Priyanto.
Dendy added, BWS's choice to cooperate with PT. KPBN in this cooperation was because PT. KPBN has good experience and infrastructure in this industry.
Meanwhile, in his speech, Director of SME and Consumer Business Bank Woori Saudara Denny Novisar Mahmuradi said, `with the support of BWS's parent company, Woori Bank Korea which is the second largest bank in South Korea, and the insurance guarantor company, we are ready to support this cooperation.
PT. KPBN is confident that this cooperation will develop positively because PT. KPBN has experience, network, infrastructure, and  strong reputation in the commodity sales industry, especially tea.
`PT.KPBN's basic service is as an agent to sell 7 main state plantation commodities, namely Palm Oil, Rubber, Tea, Coffee, Cocoa, Sugar, and Molasses. The sales value of tea commodities reaches hundreds of billions per year, it is the third largest commodity after CPO and rubber commodities”.
In the future, Iriana sees that the revitalization steps of the tea industry both upstream (bulk) and downstream will run well with support from supply chain financing (SCF).
Iriana emphasized, this financing cooperation is important to accelerate the revitalization and growth of the tea industry and outside PTPN, PT.KPBN has also scheduled cooperation with private plantation farmers  and large private companies, realizing the role  of BUMN as a development agent. `Let us work together to revitalize this industry for the welfare of this nation together,` Iriana concluded. [AF]

Dec. 6 CPO Prices: Malaysia Inventory to Rise to Record, Palm Oil Declines

06

Dec

Dec. 6 CPO Prices: Malaysia Inventory to Rise to Record, Palm Oil Declines

Crude palm oil (CPO) futures for February 2017, the most active contract on Bursa Malaysia, opened 0.54% or 17 points lower at RM3,118 a tonne [...]

Dec. 6 CPO Prices: Malaysia Inventory to Rise to Record, Palm Oil Declines. Crude palm oil (CPO) futures for February 2017, the most active contract on Bursa Malaysia, opened 0.54% or 17 points lower at RM3,118 a tonne today.
It further eased 0.67% or 21 points to RM3,114 a tonne at 10.11am.
Traders and analysts polled by Bloomberg project Malaysia’s palm oil inventories rose 8.3% to 1.7 million metric tonnes in November from a month earlier.
Malaysia’s palm oil stockpiles are set to expand to a four-month high as a slump in exports outweighed the effect of smaller output in the world’s second-largest producer.
Production of crude palm oil fell 3% to 1.63 million tonnes, while exports dropped 10% to 1.28 million tonnes, the weakest since June. Official Malaysian palm oil data is due to be released on Dec 14.
Yesterday (Dec 5, 2016), the CPO price closed up 1.92% or 59 points to RM3,135 per tonne on Bursa Malaysia despite the stronger ringgit against the US dollar.
The ringgit was quoted 0.10% higher at 4.4440 to the US dollar at 9.59am today.
CPO Futures Contract for February 2017

Date

Level

Change

Dec 6, 2016(10.11am)
3,114
-0.67%

Dec 5, 2016

3,135

+1.92%

Dec 2, 2016

3,076

-0.10%

Dec 1, 2016

3,079

+0.20%

Nov 30, 2016

3,073

+0.75%

Source: Bloomberg

Industry Ministry proposes Berau as palm oil development area

05

Dec

Industry Ministry proposes Berau as palm oil development area

Thus conveyed by the Director General of Agro Industry of Ministry of Industry Panggah Susanto after accompanying Minister of Industry Airlangga [...]

Industry Ministry proposes Berau as palm oil development area. Thus conveyed by the Director General of Agro Industry of Ministry of Industry Panggah Susanto after accompanying Minister of Industry Airlangga Hartarto to meet the President Director of Berau Nusantara Kawasan Industri (BNKI) Rauf Purnama. `We do want to have one in Kaltim, originally Pupuk Kaltim (Bontang), but the land was still not ready. Now, in Berau, it is ready,` said Panggah in Jakarta, Thursday. He conveyed, Berau Industrial Area has fairly ready facilities because it has a port, availability of water, electricity, as well as the operation of a pulp and paper industry. Meanwhile, the location in Bontang Industrial Zone is still a forest land, which is considered not ready. `Seeing the condition, its development seems to still take a long time. So, Berau is the most ready,` said Panggah. The Indonesian and Malaysian Governments are serious about encouraging the development of palm oil processing industry capable of increasing product added value and being environmentally friendly. Moreover, Indonesia and Malaysia are the largest producers of palm oil in the world.For that, the Indonesian and Malaysian Governments have initiated a cooperation in the economic sector by establishing a palm oil producing countries unity agency (Council Palm Oil Producing Countries/CPOPC).This agency will focus on creating operational standardization of palm oil industry, from upstream to downstream. Starting from creating the same standard for all palm oil producers, either in the plantation or the processing industry, until palm oil farmer development, stock management, and building of POGEZ.Regarding POGEZ development, the two countries have proposed three locations each.Indonesia wants the development in Dumai Industrial Area, Riau; Berau Industrial Area, East Kalimantan; and Sei Mangkei Industrial Area, North Sumatera. As for Malaysia, in Lahad Datu, Bintulu, and Tanjung Manis.
Editor: Heppy Ratna
http://www.antaranews.com/berita/599870/kemenperin-ajukan-berau-jadi-zona-pengembangan-sawit

Reasons for Indonesia's Withdrawal from OPEC Deemed Vague, Why?

02

Dec

Reasons for Indonesia's Withdrawal from OPEC Deemed Vague, Why?

The decision was questioned because the government revealed the reason for the withdrawal because the OPEC decision did not comply with the [...]

Reasons for Indonesia's Withdrawal from OPEC Deemed Vague, Why?. The decision was questioned because the government revealed the reason for the withdrawal because the OPEC decision did not comply with the assumption of oil production in the 2017 Budget. In the 2017 Budget, national oil production was only cut by 5,000 bph.
“If the reason is due to the budget, well, it becomes very vague. I mean how much was it compared to, for example, our image and our credibility declining among OPEC members?” energy observer and Director of Indonesian Resources Studies Marwan Batubara told Kompas.com, Jakarta, Thursday (1/12/2016) night.
In fact, according to Marwan, Indonesia would gain many benefits if it remained in OPEC. Because the OPEC decision to cut oil production by 1.2 million bph will lead to an increase in world oil prices.
It is predicted that the prices of Indonesia's leading commodities will also increase along with the rise in world oil prices. So far, he said, the plunge in commodity prices has been due to plunging oil prices.
With the recovery in oil and commodity prices of Indonesia's key exports, Marwan is confident that state revenues will increase.
“The government should have a strong commitment so that these prices will recover and compensate for the lack of revenue in the budget due to the reduction in oil production of 37,000 barrels,” said Marwan.
Disproportionate
Apart from the budget reason, Indonesia's decision to withdraw from OPEC was also considered disproportionate to the good relations between oil exporting countries.
After all, Indonesia had only recently returned to become a member of OPEC in December 2015. Marwan remembers very well the reason for the government to re-enter OPEC in December 2015.
At that time, the government had stated that there are many benefits to be gained by joining the organization, and one of them is the benefit of lobbying among members.
”Is it proportionate to the good relations among OPEC members from whom we are very dependent for oil imports? Previously, when we re-entered, it was an honor from the members because we were accepted. But as soon as there is a small problem, we become inconsistent,” said Marwan.
In fact, the government should consider various factors comprehensively before deciding to withdraw from OPEC.
These factors include Indonesia's image in the eyes of OPEC countries and in the broader economic scope related to Indonesia's export commodities.
OPEC Countries Agree to Cut Oil Production

Author
: Yoga Sukmana

Editor
: Aprillia Ika

http://bisniskeuangan.kompas.com/read/2016/12/02/114500726/alasan.indonesia.hengkang.lagi.dari.opec.dinilai.sumir.kenapa.

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