• Sharp Indonesian Rupiah Depreciation on China Manufacturing Data

    The Indonesian rupiah exchange rate continued its recent weakening trend on Wednesday (23/04). Based on the Bloomberg Dollar Index, Indonesia's currency had depreciated 1.12 percent to IDR 11,650 per US dollar at 12:45 local Jakarta time, its weakest level in two months. Reasons for this poor performance are weak Chinese manufacturing data, renewed concerns about Indonesia's wide current account deficit and ongoing political uncertainty after the fragmented outcome of Indonesia's 2014 parliamentary election.

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  • Kimia Farma will Construct Indonesia's First Pharmaceutical Salt Factory

    Indonesian state-controlled pharmaceutical company Kimia Farma will construct Indonesia's first pharmaceutical salt factory in Jombang (East Java) in an attempt to supply the domestic market and curb imports of this type of salt. Minister of State-Owned Enterprises Dahlan Iskan said that the plant can commence operations near the end of 2014 and will have an annual production capacity of 2,000 tons of pharmaceutical salt (approximately two thirds of domestic demand).

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  • Company Profile of an Indonesian Palm Oil Giant: Astra Agro Lestari

    Indonesia Investments updated the company profile of Astra Agro Lestari in our Indonesian Companies section. Astra Agro Lestari is Indonesia's largest agribusiness company by value. The company, majority-owned by diversified conglomerate Astra International, is engaged in palm oil and rubber plantations as well as industrial activities. It currently manages a total plantation area of 281,378 hectares - including nucleus and plasma - in Sumatra, Kalimantan and Sulawesi.

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  • Indonesian Crude Palm Oil (CPO) Exports Rose 13% in March 2014

    The Indonesian Palm Oil Association (Gapki) stated that exports of Indonesian crude palm oil (CPO) and its derivatives have increased 13 percent to 1.79 million tons in March 2014 from 1.58 million tons in the previous month. The increase was particularly due to a surge in the price of soybeans since February which makes importers shift their focus to CPO and its derivatives as a substitute for soybeans. Moreover, CPO prices have risen due to speculation about the looming El Niño cycle and declining stockpiles in Indonesia and Malaysia.

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