Appendix III of SK.01/MENLHK/SETJEN/KUM.1/1/2022 from minister of forestry and environmental affairs about the list of companies whose permits/concessions are being reviewed can be very confusing for some because earlier media reports pointed to revocation of their land titles (HGU).
Read MoreOther than revocation of forest concessions/rights to use/permits of 192 companies, ministry of environment and forest affairs is reviewing concessions of 103 companies covering 1.37 million hectares, whose permits were issued between 1993 and 2018.
Read MoreMinister of forestry and environment affairs Siti Nurbaya, a politician from NasDem Party, has issued a decree on revocation of forest concession granted to 192 companies covering 3.12 million hectares in the period of 2015-2021. Some of them are active plantation companies, including those owned by giants listed on Singapore Exchange (SGX), KLSE, and IDX.
Read MorePresident Joko ‘Jokowi’ Widodo repeatedly said he would not hesitate to revoke neglected concessions even if the holders are tycoons. He delivered. After revoking thousands of permits in mining sector, the government has revoked timber and plantation concessions of 11 companies in West Kalimantan province alone affecting nearly 200,000 hectares.
Read MoreThe benchmark November 2014 contracts of crude palm oil (CPO) dropped further by more than 1% to RM2002 per ton today just when people in plantation industry talk about Indonesia’s plan to cap ownership of foreign investments to less than 30%.
Read MorePlantation shares end mostly lower in the region Thursday (Aug 21), dragged down by continuous downfall of crude palm oil (CPO) in both physical and futures market. The benchmark November 2014 contracts of CPO end lower by RM9 to RM2040 per ton.
Read MoreKPB Nusantara, the joint marketing office of state plantations, sold most of CPO packages auctioned off Monday (August 18) at Rp8076-8236/Kg (VAT 10% included), dragged down by continuous downfall of CPO in the futures market and appreciation of rupiah. Indonesian CPO producers, meanwhile, are working on another story about biodiesel.
Read MorePretty much as predicted the benchmark October 2014 contracts of crude palm oil (CPO) dropped further by RM39 (1.8%) to RM2094 per ton on Bursa Malaysia Derivatives Friday (August 15) despite reports about plans from Indonesian lawmakers to slash foreign ownership of plantations to no more than 30%. The commodity has lost 27% since March 2014.
Read MoreThe benchmark October 2014 contracts of crude palm oil (CPO) lost almost 2% to close at RM2133 per ton on Thursday (August 14) on Bursa Malaysia Derivatives. August contracts dropped 3% to RM2150, while November and December down RM40 and RM42 to RM2135 and RM2151 per ton respectively. October and November contracts were traded as low as RM2115 and RM2113 per ton respectively.
Read MoreKPB Nusantara, the joint marketing office of state plantations, sold most CPO packages auctioned off Wednesday (August 13) at Rp8546/Kg (VAT 10% included) or Rp7769/Kg net (US$665/ton), way below average price of CPO in the first half of 2014, which had contributed strong performance of plantation companies in the period.
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