Shares of Bumitama Agri Ltd, a joint venture between Indonesian Harita Group and Malaysian IOI Corp, have only inched up 0.9% year-to-date despite strong financial performance. Astra Agro Lestari, which reported lower profit margin, on the other hand, already gained 18% in the same period.

Reference price of Indonesian coal for November 2014 is set at US$65.7 per ton (FOB vessel for CV 6322 Kcal/Kg), the lowest level since July 2009. That means the commodity collapsed almost 16% from the same month of 2013.

COKING COAL PRICE: Wesfarmers, one of Australia’s coking coal producers, has concluded price negotiations for the October-December 2014 with majority of its customers. The weighted average FOB price for the quarter would be 1% lower than the previous quarter but 25% below the corresponding period of 2013 due to weak demand and strong supply. Wesfarmers’ Curragh hard coking coal benchmark price for Oct-Dec 2014 is US$110 per ton, down from US$111 in Jul-Sep quarter and US$138 in Jan-Mar 2014 period.

Government agencies believe domestic consumption of biodiesel would miss the target. Financial report of Eterindo Wahanatama (ETWA), one of biodiesel producers, might be a confirmation to such prediction.

The benchmark January 2015 contracts of crude palm oil (CPO) rallied to its highest position in two months Friday (Oct 31). Combined with weak rupiah, KPB Nusantara, the joint marketing office of state plantations, sold most CPO packages auctioned off that day at new high of Rp8954/Kg (VAT 10% included).

Harum Energy (HRUM) booked net profit of US$1.1 million in the third quarter of 2014, crashed 92.3% from the corresponding period of 2013 due to falling sales volume and prices of coal. How about Bayan Resources and Indika Energy?

The benchmark January 2014 contracts of crude palm oil (CPO) advanced more by 2% Wednesday (Oct 29) to settle at RM2263 per ton. That means the commodity has gained 16% from its bottom few weeks ago. Combined with weak rupiah, the commodity hiked to Rp8665/Kg (VAT 10% included) in Jakarta’s physical market yesterday.

The troubled coking coal producer Borneo Lumbung Energi (BORN), controlled by Samin Tan, booked net loss of US$170 million in the first half of 2014, expanded 53% from the corresponding period of 2013 on falling volume and prices of coking coal. Also this report: Garda Tujuh Buana (GTBO) and Bukit Asam (PTBA).