Indonesia recorded a $5.76 billion trade surplus in August, the biggest in four months and larger than expected, as exports and imports beat forecast, official data showed on Thursday. A Reuters poll had expected a surplus of $4.09 billion. The resource-rich country has reported a trade surplus every month since May 2020, with exports boosted…
Indonesia’s Central Statistics Agency (BPS) recorded export value in August 2022 at US$ 27.91 billion, a 30.15 percent year on year (yoy) increase. BPS deputy for distribution and service statistics Setianto said that the exports value and volume of oil and gas products, particularly oil, rose by 64.46 percent and 79.7 percent, respectively. “Because there…
Earnings of plantation companies have likely peaked in the second quarter of 2022 (2Q22) as the average crude palm oil (CPO) price of RM4,116 per tonne in July-August is more than one-third lower compared with 2Q22. CGS-CIMB Research said CPO prices could weaken due to higher Indonesian palm oil exports following the recent extension of…
Palm oil futures advanced on Monday as investors focused on stronger early September exports, a weaker Ringgit and rising crude prices, with a jump in stocks capping gains. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange gained 88 ringgit, or 2.45%, to 3,682 ringgit ($817.77) a tonne, its biggest daily rise…
Jakarta (ANTARA) – Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto received Japanese Minister of Energy, Trade and Industry Nishimura Yasutoshi and they discussed trade and investment cooperation, Indo-Pacific Economic Framework (IPEF), and G20 Summit. Through the Indonesia-Japan Economic Partnership Agreement (IJ-EPA), the two countries have made many achievements in their cooperation and renewed cooperation…
Jakarta, September 1, 2022: Astra Agro Lestari has further demonstrated its commitment to implementing sustainability principles. At the G20 Parallel Event held in Nusa Dua Bali, August 30, the Astra Group oil palm plantation company signed a memorandum of understanding (MoU) with PT Pertamina. “Astra Agro has a commitment to support the Indonesian Government’s climate…
JAKARTA – In the Best Stocks 2022 event organized by Investor Magazine in collaboration with PT Edvisor Profina Visindo (Edvisor.id). Astra Group’s palm oil company, PT Astra Agro Lestari Tbk, which is an issuer coded AALI won the award for being the best listed company in the Big Cap category (Market Capitalization above Rp 10…
Malaysia’s benchmark palm oil futures extended gains to a second session on Monday, helped by stronger vegetable oils, a weaker ringgit, and supportive export data. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange rose 1.71% to 4,218 ringgit ($941.52) a tonne by the end of the afternoon session. It gained…
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trend downward next week on profit-taking activities. Interband Group of Companies senior palm oil trader Jim Teh said the price movement next week is expected to confine between RM3,200 and RM3,700 per tonne. “The lower forecast is mainly due to July’s…
Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed marginally higher on Wednesday (Aug 17), in line with gains in soybean oil prices, a dealer said. Palm oil trader David Ng said higher soybean oil futures in the Chicago Board of Trade (CBOT), coupled with improving crude oil prices, supported local CPO futures.…
Malaysia, the world’s second-largest palm oil producer, has maintained its September crude palm oil (CPO) export duty at 8 percent, the Malaysian Palm Oil Board circular showed on Wednesday. However, it lowered the CPO reference price in September to 3,907.51 ringgit (about 875 U.S. dollars) from 5,257.91 ringgit (about 1,177 dollars) per tonne in August. Based…
RBD palmolein imports increased to 11.44 lt in the first nine months of the oil year 2021-22 (November to October) from 43,271 tonnes the previous year. He stated that the import of RBD palmolein during the first nine months of the oil year 2021-22 is primarily due to Indonesia’s high CPO export levy and lower…
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trend higher next week on the expectation of higher palm oil export estimates by cargo surveyors, said a dealer. “We expect next week’s market to trade with an upward bias with the commodity’s price expected to trade between RM4,000 and RM4,600…
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trend lower next week on profit-taking activities. Interband Group of Companies senior palm oil trader Jim Teh said stocks are expected to remain high in Malaysia due to Indonesia’s lower Indonesian export prices. “As such, the price movement next week is…
Malaysia’s palm oil inventories at end-July likely jumped to the highest in eight months due to improving production and soaring imports, a media survey showed yesterday. Stockpiles in the world’s second-largest producer expanded 8.3 per cent from June to 1.79 million tonnes, according to the median estimate of 11 traders and analysts polled by media. Production…
Malaysia’s crude palm oil (CPO) output is expected to grow by 2.8 per cent month-on-month (m-o-m) and 4.3 per cent year-on-year (y-o-y) to 1.59 million tonnes in July 2022, said CGS-CIMB Securities Sdn Bhd. “The m-o-m increase in CPO output was driven by seasonal factors,” it said in a research note today. As such, Malaysia’s palm oil…
Malaysia said on Thursday it was ready to help India meet its palm oil demand in view of potentially erratic supply from top supplier Indonesia. India is expected to see a surge in demand to around 800,000 tonnes per month for the next six months, Malaysia’s Plantation Industries and Commodities Minister Zuraida Kamaruddin said in a statement,…
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today, weighed by strong competition from lower Indonesian export prices, a dealer said. Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said the republic’s higher export volume also led towards the sell-off in Malaysian CPO futures. “A sharp fall in…
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is projected to extend its uptrend this week after a three-day winning streak on optimism over the outlook for oil and vegetable oils. Palm oil trader David Ng expects futures prices to move between MYR3,700 and MYR4,500 per tonne next week. Market sentiment was…
The company engaged in oil palm plantations was declared the winner of the Corporate Reputation Awards 2022 in the Palm oil category at a hybrid event held on Friday (29/07). At the event initiated by The Iconomics, the award was given thanks to publicity. The coverage played a big role in building the company’s reputation.…
