Latest News: Page 61

Oil prices rise on hopes of OPEC output deal

16

Nov

Oil prices rise on hopes of OPEC output deal

OPEC countries have started diplomatic talks to agree on details of a landmark deal to rein in their crude output, media reports said Tuesday, with [...]

Oil prices rise on hopes of OPEC output deal. OPEC countries have started diplomatic talks to agree on details of a landmark deal to rein in their crude output, media reports said Tuesday, with Qatar, Algeria and Venezuela spearheading the efforts. OPEC reached a deal in September to cap oil production at a policy meeting later this month, the first such agreement to cut output since 2008.  The output quotas for individual OPEC members are to be set at the cartel's next meeting on November 30 in Vienna, Austria. The U.S. benchmark, light sweet crude or West Texas Intermediate (WTI) for December delivery, jumped 2.49 U.S. dollars to settle at 45.81 dollars a barrel on the New York Mercantile Exchange.  Meanwhile, the global benchmark, Brent North Sea crude for January delivery, increased by 2.52 dollars to close at 46.95 dollars a barrel on the London ICE Futures Exchange, Xinhua reported. (UU.A026)
Editor: Ruslan Burhani
http://www.antaranews.com/berita/596424/harga-minyak-bangkit-didukung-harapan-kesepakatan-produksi-opec?utm_source=topnews&utm_medium=home&utm_campaign=news

RUBBER PRICES NOV 14: China Trade Curbs Cap Gains, Rubber Settles Lower

14

Nov

RUBBER PRICES NOV 14: China Trade Curbs Cap Gains, Rubber Settles Lower

Rubber for April 2017 delivery, the most active contract on the Tokyo Commodity Exchange, ended 3.80 percent or 7.80 points lower at 197.70 yen per [...]

RUBBER PRICES NOV 14: China Trade Curbs Cap Gains, Rubber Settles Lower. Rubber for April 2017 delivery, the most active contract on the Tokyo Commodity Exchange, ended 3.80 percent or 7.80 points lower at 197.70 yen per kilogram (kg). Earlier, the April rubber contract opened with a 0.58 percent increase or 1.20 points at 206.70 yen per kg. Last weekend, (11/11/2016), the April rubber contract was closed 3.47 percent or 6.90 points higher at 205.50. Gu Jiong, an analyst for broker Yutaka Shoji Co., said regulations limiting trading on the Shanghai Futures Exchange triggered sell-offs by market players. This `(trading limitation) also affects rubber trading on the TOCOM Exchange in Japan,` he added. Meanwhile, the value of the Japanese yen fell 0.83 percent or 0.88 points to 107.54 per US dollar at 14:06 WIB, after opening with a fall of 0.22 percent or 0.23 points at 106.89.  | Date | Price (Yen/Kg) | Change | |---|---|---| | 14/11/2016 | 197.70 | -3.80% | | 11/11/2016 | 205.50 | +3.47% | | 10/11/2016 | 198.60 | +5.47% | | 09/11/2016 | 188.30 | -0.79% | | 08/11/2016 | 189.80 | +1.44% | Source: Bloomberg  http://market.bisnis.com/read/20161114/94/602310/harga-karet-14-november-china-batasi-perdagangan-karet-ditutup-melemah

CPO exports predicted to increase following France’s abolition of progressive tax

11

Nov

CPO exports predicted to increase following France’s abolition of progressive tax

“We hope that the Ambassador, who also cares deeply about our palm oil issue, will help disseminate the information about sustainable palm oil, [...]

CPO exports predicted to increase following France’s abolition of progressive tax. “We hope that the Ambassador, who also cares deeply about our palm oil issue, will help disseminate the information about sustainable palm oil, which Indonesia is currently implementing,” Airlangga said in a press release in Jakarta on Thursday.To implement this, the Indonesian government is following up the decision through dissemination and outreach, particularly regarding the positive achievements of Indonesian palm oil products.The Minister of Industry shared this after meeting the Indonesian Ambassador to France Hotmangaradja Pandjaitan at the Ministry of Industry.According to Airlangga, this outreach needs to be carried out comprehensively and through coordination with all stakeholders with a specific campaign strategy that targets the right people.It is important to note that Frances parliament (Assemble Nationale) recently strengthened the Senates decision to cancel the progressive tax that was set to be imposed on palm oil in the draft of Frances Biodiversity Bill. The decision was confirmed on July 20, 2016 after several intensive discussions and votes in the Senate and Parliament.Beforehand, the progressive tax was set at 300 euros per ton in 2017, 500 euros per ton in 2018, 700 euros per ton in 2019, and 900 euros per ton in 2020.However, through negotiation, the progressive tax was changed to 30 euros per ton in 2017, 50 euros per ton in 2018, 70 euros per ton in 2019, and 90 euro per ton in 2020 before being canceled completely.After six months of implementing the Biodiversity Act on January 1, 2017, the French government will prepare a more simple and harmonious fiscal policy that is non-discriminatory, includes all types of vegetable oil that circulate in France, and prioritizes sustainability.Airlangga conveyed that France is a country that pays careful attention to environmentally friendly aspects of palm oil production, particularly with regards to deforestation and climate change.“Thus, we are synchronizing to increase and facilitate CPO exports to France,” he said.Moreover, Airlangga continued, the Indonesian government is aggressively promoting expanding the export market for agro-industrial products to the European Union countries.For CPO and its derivatives, the volume of Indonesian exports to the world is approximately 21-22 million tons, to the European Union is approximately 3.4-4 million tons, whereas to France is approximately 50 thousand to 150 thousand tons per year.Meanwhile, the production of CPO and its derivatives in Indonesia reached 32.5 million tons in 2015, an increase of 3 percent compared to total production in 2014, which was 31.5 million tons.
Editor: Ruslan Burhani
http://www.antaranews.com/berita/595463/ekspor-cpo-diprediksi-naik-pasca-pembatalan-pajak-progresif-prancis

EXPORT RESTRICTION ON RUBBER, the Fate of AETS Will Be Decided Next Month

10

Nov

EXPORT RESTRICTION ON RUBBER, the Fate of AETS Will Be Decided Next Month

The Agreed Export Tonnage Scheme (AETS) implemented since March 2016 is claimed to be able to keep the rubber price at a positive level after it fell [...]

EXPORT RESTRICTION ON RUBBER, the Fate of AETS Will Be Decided Next Month. The Agreed Export Tonnage Scheme (AETS) implemented since March 2016 is claimed to be able to keep the rubber price at a positive level after it fell last year. The scheme was initially scheduled to last only until August 2016, but was then extended to December 2016.   Rubber - illustration The International Tripartite Rubber Council (ITRC) that includes Indonesia, Malaysia, and Thailand, agreed to reduce export volume by 700,000 metric tons through the scheme. The ITRC countries plus Vietnam are the world's largest rubber exporters.  With AETS, Indonesia's rubber export volume this year is estimated at 2.45-2.5 million metric tons. This is lower than the 2015 realization of 2.63 million metric tons.  Vietnam, a strategic partner country of ITRC, also received an export reduction allocation of 85,000 metric tons. However, the cut allocation has not been realized and the quota was finally taken over by the three ITRC members.  The Director General of Foreign Trade of the Ministry of Trade Dody Edward stated that there have been no discussions about the continuation of the scheme. According to him, discussions about AETS will be held next month.  “In December we will meet again, but the exact date has not been determined yet. There have been no developments on Vietnam's status yet,” said Dody to Bisnis.  In August 2016, the government stated the need for broader cooperation to maintain rubber quality and global prices. One way to do that is to invite other producer countries, including Vietnam and Cambodia, to cooperate more extensively.   Editor: Fatkhul Maskur  http://industri.bisnis.com/read/20161109/99/600950/pembatasan-ekspor-karet-nasib-aets-ditentukan-bulan-depan

In Bangkok, Entrepreneurs and Workers Gather to Discuss Sustainable Palm Oil

09

Nov

In Bangkok, Entrepreneurs and Workers Gather to Discuss Sustainable Palm Oil

All oil palm industry stakeholders from various countries were present in the 14th RSPO in Bangkok. These included businessmen, regional governments, [...]

In Bangkok, Entrepreneurs and Workers Gather to Discuss Sustainable Palm Oil. All oil palm industry stakeholders from various countries were present in the 14th RSPO in Bangkok.
These included businessmen, regional governments, traders, up to oil palm farmers. This year, the RSPO theme was “Learning to Live Together: From Vision to Transformation”.
The theme was chosen to encourage stakeholders to share knowledge and expertise.
In addition, the 14th RSPO also continued to emphasize various social issues in the oil palm plantation sector.
Among these were the issues of employment agreements, gender issues, and worker health and safety.
RSPO CEO Datuk Darrel Webber stated that the RSPO would remain committed to encouraging transformation, so that no one would be left behind in the oil palm plantation sector, including farmers.
Currently, there are over 3 million oil palm farmers throughout the world who contribute 30 percent to the production of global palm oil.
`We have conducted various activities in Indonesia, Malaysia, Thailand, and recently in Colombia and Ghana,` said Webber in Bangkok on Wednesday (9/11/2016).

Author
: Yoga Sukmana

Editor
: Aprillia Ika

http://bisniskeuangan.kompas.com/read/2016/11/09/130000926/bahas.cpo.berkelanjutan.pengusaha.hingga.buruh.kumpul.di.bangkok

Trump Tweets, Dow Futures Plunge 750 Points

09

Nov

Trump Tweets, Dow Futures Plunge 750 Points

The Mexican peso also fell 10 percent against the US dollar, reaching near record lows. Earlier, the S&P 500 e-mini futures contract was down as [...]

Latest News