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Chamber backs bid to revitalize Indonesian exports

17

Oct

Chamber backs bid to revitalize Indonesian exports

"This is a good opportunity to be used as a turning point, because our export has been declining for a long time. We are grateful that TEI 2016 can [...]

Chamber backs bid to revitalize Indonesian exports. `This is a good opportunity to be used as a turning point, because our export has been declining for a long time. We are grateful that TEI 2016 can be a momentum,` Handito Joewono, Chairman of the Export Development Committee of the Indonesian Chamber of Commerce and Industry, told ANTARA News in Jakarta, Sunday. It is known that the transaction value of TEI 2016 until Sunday (16/10) morning reached 974.76 million US dollars or Rp12.7 trillion, an increase of 7.2 percent compared to TEI last year which amounted to 909 million US dollars. In fact, the transaction value is expected to continue to grow. Handito said the momentum must be maintained and defended by all parties, both entrepreneurs and the government. In this regard, the Indonesian Chamber of Commerce and Industry will implement five export development strategies contained in the 500 percent export development roadmap in the next 10 to 15 years. First is the addition of new exporters ranging from large, medium to small businesses. `Small entrepreneurs should not be forgotten. Many of them already have export potential, but have not yet exported,` said Handito. The second is the addition of diversification of export products, where Handito sees fisheries and marine products having great potential to be developed. Furthermore, the development of the export market, by adding a new market or doing deeper market penetration. `In terms of penetration, we deepen the export destination in one country, for example adding export markets in other regions in that country. E-commerce can be utilized in this regard,` said Handito. Then, he continued, to increase the average price of export products, by increasing the added value of export products by downstreaming production to the final product. Lastly, namely improving the export ecosystem, where all Indonesian entrepreneurs are encouraged to have an export mindset. `Thus, we expect Indonesia to become a major export country,` concluded Handito.
Editor: Monalisa
http://www.antaranews.com/berita/590526/kadin-dukung-kebangkitan-ekspor-indonesia

Tocom Rubber Ends Oct. 13 _1 Percent Lower

13

Oct

Tocom Rubber Ends Oct. 13 _1 Percent Lower

The Japanese Yen currency is seen experiencing a strengthening. The USDJPY exchange rate has a -0.32 percent drop at 103.88. The increasing value of [...]

Tocom Rubber Ends Oct. 13 _1 Percent Lower. The Japanese Yen currency is seen experiencing a strengthening. The USDJPY exchange rate has a -0.32 percent drop at 103.88. The increasing value of the Japanese Yen currency is making commodity prices that are traded using this currency become relatively more expensive for foreign buyers. The impact is that the demand for this commodity has experienced a decrease.
The price of oil dropped on Thursday (13/10) in the Asian session, pressured by a rise in OPEC production and an increase in the crude inventory of the United States.
The price of the U.S. West Texas Intermediate (WTI) crude futures dropped 54 cents, or 1.08 percent, at $49.64 per barrel.
The International Brent crude oil futures price was traded at $51.37 per barrel at 0256 GMT, which is a 44 cents (or 0.85 percent) decrease from its previous closing.
See: Crude Oil Price Drops 1 Percent in the Asian Session
The drop in the price of crude oil is making the cost of producing synthetic rubber cheaper. The impact is that the demand for the natural rubber commodity, such as the one traded in Tocom, has decreased.

Crude Oil Prices Drop 1% as OPEC Output Surges

13

Oct

Crude Oil Prices Drop 1% as OPEC Output Surges

US West Texas Intermediate (WTI) futures crude closed down 61 cents or 1.2 percent, to $50.18 per barrel. Brent futures crude was down 56 cents, or [...]

Crude Oil Prices Drop 1% as OPEC Output Surges. Brent futures crude was down 56 cents, or 1.1 percent, at $51.85 a barrel at 2:38 p.m. (1838 GMT).
Officials from some of the world's biggest oil trading companies told the Reuters Commodities Summit in London that crude was unlikely to achieve supply-demand balance until well into 2017.
“I don't think they (OPEC) can make any substantial cuts. There are too many uncertain factors involved,” said Gunvor Group's Chief Executive Officer Torbjorn Tornqvist, adding that increasing Nigerian and Libyan output was enough to “wipe out any other deal that has been agreed on. “
Marco Dunand, CEO of Mercuria Energy Group Ltd, said prices could fall to the low $40s if OPEC failed to agree on a cut at the November meeting.
Doubts remain as to the intentions of major suppliers such as Saudi Arabia and Iran and the effectiveness of any agreement to rein in output from record highs.
The prospect of countries from OPEC and non-OPEC members such as Russia coordinating a production curb will support prices above the $50 mark, market participants have said since an initial agreement was struck at the end of last month.
Government officials from major oil producers, including Russia, are meeting in Istanbul this week to try to lay out further details of production cuts ahead of an official OPEC meeting in November.

CPO PRICE OCT 12: Malaysia Stocks Rise Almost 6%, Palm Oil Down

12

Oct

CPO PRICE OCT 12: Malaysia Stocks Rise Almost 6%, Palm Oil Down

The CPO futures contract for December 2016, the most active contract on the Bursa Malaysia, fell 0.11% or 3 points to 2,608 ringgit per ton at 09:53 [...]

CPO PRICE OCT 12: Malaysia Stocks Rise Almost 6%, Palm Oil Down. The CPO futures contract for December 2016, the most active contract on the Bursa Malaysia, fell 0.11% or 3 points to 2,608 ringgit per ton at 09:53 western Indonesia time.
The price of palm oil had previously opened lower by 0.15% or 4 points to a position of 2,607.
On yesterday’s trading (11/10), the price of palm oil closed having spiked by 2.71% or 69 points to 2,611, in line with the weakening performance of the Malaysian ringgit.
Meanwhile, the value of the ringgit this morning was monitored as having weakened by 0.20% to 4.1860 per US dollar at 10:08 western Indonesia time.
As quoted by Bloomberg, the volume of palm oil stock on the Malaysian Palm Oil Board has increased by 5.7% to 1.55 million tons in September, slightly more than the prediction of 1.51 million tons, primarily caused by a sharp decline in exports.
In September, the export volume dropped 20.4% to 1.45 million tons with the fall in exports to India, China, and the European Union being 40.3%, 33.9%, and 27.1% respectively, in line with the reduced competitive level of the price of palm oil (with regard to soybean oil).
Movement in the Price of CPO for the December 2016 Contract

Date

Level

Change

12/10/2016
(As of: 09:53 western Indonesia time)

2.608

-0.11%

11/10/2016

2.611

+2.71%

10/10/2016

2.542

-0.74%

7/10/2016

2.561

-0.70%

6/10/2016

2.579

+0.90%

Source: Bloomberg

Editor: Rustam Agus
http://market.bisnis.com/read/20161012/94/591750/harga-cpo-12-oktober-stok-malaysia-naik-hampir-6-sawit-melemah

National Industry Will Face A New Industrial Revolution

12

Oct

National Industry Will Face A New Industrial Revolution

According to him, this era is marked by the increasing relationship between human, machine, and natural resources through the convergence of [...]

National Industry Will Face A New Industrial Revolution. According to him, this era is marked by the increasing relationship between human, machine, and natural resources through the convergence of information technology and engineering. This era also further strengthens the relationship between the digital world and the industrial sector. He said, the platform; namely Internet of things, or integrate the capabilities of the internet with line production. In Indonesia, there has been one company with such model; that is, at the innovation center of Matsushita. `There has been one assembly line production for electronics,` he explained in Jakarta, Tuesday (10/11/2016). Airlangga assured that industries applying industry 4.0 will have competitive advantages. In implementing the new industrial revolution, according to the Minister of Industry, three policy reinforcements are required. First, implementing of vocational education to improve the quality of industrial human resources through preparation and determination of the Indonesian National Work Competency Standard (SKKNI) in the field of industry.
As well as through the increase of capacity and facilitation of the establishment of Professional Certification Body (LSP) and Competency Test Site (TUK), as well as preparation of competency-based training program.
Second, utilization of digital technology to help small and medium industries (IKM) in penetrating foreign market through e-smart IKM.
“This program is expected to help IKM in obtaining raw materials and technology at relatively cheap prices with easy and cheap financing mechanism so that it will increase the competitiveness of IKM,” explained Airlangga.
Third, collaboration of implemented research and development system to determine the future direction of the industry.
This collaboration includes market research, technology acquisition, growth and innovation development, product design preparation, production system reinforcement, as well as marketing.

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Writer
: Pramdia Arhando Julianto

Editor
: Aprillia Ika

http://bisniskeuangan.kompas.com/read/2016/10/12/061600526/industri.nasional.akan.hadapi.revolusi.industri.baru

Vietnam to raise male retirement age to 62, females to 60

12

Oct

Vietnam to raise male retirement age to 62, females to 60

The ministry is collecting feedback from experts and related agencies on its plan to raise the retirement age to 60 from the current 55 for women and [...]

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