AmInvest Research Reports
PLANTATION SECTOR - News Flow for Week 23 – 27 Dec
AmInvest
Publish date: Mon, 30 Dec 2019, 09:45 AM
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All materials published here are prepared by AmInvest. For latest offers on AmInvest trading products and news, please refer to: https://www.aminvest.com/eng/Pages/home.aspx
Tel: +603 2036 1800 / +603 2032 2888
Fax: +603 2031 5210
Email: enquiries@aminvest.com
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Bloomberg reported that Indonesia’s Oil Palm Plantation Fund Management Agency seeks to buy corporate or government bonds next year as part of its investment plan. Planning and Fund Management Director Kabul Wijayanto said that the agency will set aside Rph2trillion (US$143.2mil) for various investments. Presently, the agency invests in term deposits only. The agency has disbursed Rph2.5trillion (US$179mil) for biodiesel in 11M2019, lower than the Rph5.5trillion (US$393.8mil) in 11M2018. Total allocation was Rph7.5trillion (US$537mil) for 2019E.
Bloomberg also quoted the executive director of Solvent Extractors Association of India as saying the Indian palm refiners will suffer as refined palm imports become more attractive than crude from 1 January 2020 onwards due to duty changes. Under the ASEAN Free Trade Agreement, the import duties will drop to 37.5% from 40% for crude palm oil and 45% from 50% for refined palm oil. The Solvent Extractors Association of India is seeking a 15- percentage point difference between the import duties of refined and crude palm oil compared with the difference of 10-percentage point currently.
Reuters reported that Singapore could become the world’s first country to use only sustainable palm oil as part of its green push to tackle forest fires and air pollution. The People’s Movement (PM) to Stop Haze will begin getting local businesses to commit to using green and ethically produced palm oil in January 2020. The goal is for Singapore to switch to sustainable palm oil by year 2023F. The PM Haze initiative is receiving technical support from Wilmar International and will initially focus on restaurants and cooking oil before targeting other businesses.
According to Reuters also, Indonesia’s trade spat with the EU over palm oil has escalated into a broader dispute with imported European spirits and dairy products now caught in the crossfire. Shipments of EU’s alcohol have been stranded in containers and warehouses while some brands have run out of stock. From August 2019, Indonesia had also taken measures to limit EU’s dairy products by blocking import new import approvals and threatening additional tariffs. Also, the EU launched its complaint at the WTO in late-November 2019 over Indonesia’s curbs on nickel ore exports.
The Sun Daily reported that cooperatives involved in oil palm plantations in Tawau have been urged to strive for the MSPO (Malaysia Sustainable Palm Oil) certification before the deadline of 31 December 2019. This is to ensure that the co-ops would not face problems selling their palm products as MSPO is mandatory for all oil palm plantations. Many cooperatives in Tawau have yet to apply for the MSPO certification. The government has allocated an MSPO incentive fund to help smallholders obtain the MSPO certification. Only those, who obtain the certification or begin the process of certification before 1 January 2020 are eligible for the incentives.
Bloomberg also quoted the executive director of Solvent Extractors Association of India as saying the Indian palm refiners will suffer as refined palm imports become more attractive than crude from 1 January 2020 onwards due to duty changes. Under the ASEAN Free Trade Agreement, the import duties will drop to 37.5% from 40% for crude palm oil and 45% from 50% for refined palm oil. The Solvent Extractors Association of India is seeking a 15- percentage point difference between the import duties of refined and crude palm oil compared with the difference of 10-percentage point currently.
Reuters reported that Singapore could become the world’s first country to use only sustainable palm oil as part of its green push to tackle forest fires and air pollution. The People’s Movement (PM) to Stop Haze will begin getting local businesses to commit to using green and ethically produced palm oil in January 2020. The goal is for Singapore to switch to sustainable palm oil by year 2023F. The PM Haze initiative is receiving technical support from Wilmar International and will initially focus on restaurants and cooking oil before targeting other businesses.
According to Reuters also, Indonesia’s trade spat with the EU over palm oil has escalated into a broader dispute with imported European spirits and dairy products now caught in the crossfire. Shipments of EU’s alcohol have been stranded in containers and warehouses while some brands have run out of stock. From August 2019, Indonesia had also taken measures to limit EU’s dairy products by blocking import new import approvals and threatening additional tariffs. Also, the EU launched its complaint at the WTO in late-November 2019 over Indonesia’s curbs on nickel ore exports.
The Sun Daily reported that cooperatives involved in oil palm plantations in Tawau have been urged to strive for the MSPO (Malaysia Sustainable Palm Oil) certification before the deadline of 31 December 2019. This is to ensure that the co-ops would not face problems selling their palm products as MSPO is mandatory for all oil palm plantations. Many cooperatives in Tawau have yet to apply for the MSPO certification. The government has allocated an MSPO incentive fund to help smallholders obtain the MSPO certification. Only those, who obtain the certification or begin the process of certification before 1 January 2020 are eligible for the incentives.
Source: AmInvest Research - 30 Dec 2019
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