A survey, conducted by Indonesia's central bank (Bank Indonesia, BI), indicates that Indonesian inflation has risen 0.59 percent in the first week of June 2016, implying that there is a big chance that inflation will reach beyond the 1 percent (m/m) level in the full-month, perhaps even touching 2 percent (m/m). The main cause of inflationary pressures in Indonesia in this month is food prices. Amid Ramadan festivities - which boost demand for food items - prices of beef, chicken meat, cooking oil, eggs, onions, and chilies have risen.
16 January 2022 (closed)
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Today's Headlines Chicken Meat
The outlook for Malindo Feedmill, one of the largest animal feed producers in Indonesia, has become more upbeat after the arrival of fresh funds (IDR 537 billion) through the company's rights issue and on expectation of improving conditions in the nation's chicken breeding industry. Malindo Feedmill will use proceeds from the rights issue to repay US dollar-denominated debt to Bank Central Asia (BCA) and Bank CIMB Niaga. Based on a financial report, the company had a total debt of IDR 2.2 trillion (approx. USD $157 million) in the third quarter of 2015.
Indonesia experienced deflation, with consumer prices falling by 0.05 percent (month-on-month), in September 2015 on the back of lower food and transportation prices. Examples of lower food prices include chicken meat, eggs, chili peppers, onions and cooking oil. Regarding lower transportation costs it was particularly lower air transport tariffs that contributed to deflation. On an annual basis, Indonesian inflation eased to 6.83 percent in September, down from 7.18 (y/y) in the preceding month, and below analysts' estimates at 7.0 (y/y).
Statistics Indonesia (BPS) is optimistic that Indonesia's inflation rate in February 2014 can be curbed below the one percent mark. BPS official Sasmito Hadi Wibowo said that inflationary pressures are easing as floods have gone, while the LPG price moderated from last month. Prices of chicken meat and rice have remained stable but the price of chili is still growing slightly. In January 2014, severe floods caused 1.07 percent (month-to-month) of inflation due to disrupted distribution networks.
Latest Columns Chicken Meat
When on 11 March 2016 an Indonesian man died while participating in a chicken eating contest organized by O2 Accion in outlets of fast-food company Kentucky Fried Chicken (KFC) Indonesia, shares of Fast Food Indonesia came under pressure. Fast Food Indonesia, the franchise holder of the KFC brand in Indonesia, is one of the nation's leading fast food companies and operates the popular KFC chain in Southeast Asia's largest economy. However, in the first week of April shares of Fast Food Indonesia soared significantly on the back of better-than-expected revenue.
Indonesian animal feed and commercial day-old chicks producer Malindo Feedmill is expected to post net profit again in 2016 after two straight years of net losses. This optimistic projection is based on Indonesia's higher purchasing power, stable supply-demand of poultry as well as the company's stable production costs (supported by the stable rupiah exchange rate). Malindo Feedmill is one of the largest animal feed producers in Indonesia. Its main competitors are Japfa Comfeed Indonesia and Charoen Pokphand Indonesia.
After having experienced two consecutive months of deflation in September and October, Indonesia is expected to see inflation again in November, primarily on higher food prices (chicken meat and rice). Agus Martowardojo, Governor of Bank Indonesia, expects an inflation rate of 0.2 percent (month-on-month) in November. This would mean that inflation in full-year 2015 is likely to reach 3 percent (y/y), in line with earlier estimates and within - or perhaps slightly below - Bank Indonesia's target range of 3 - 5 percent (y/y) of inflation in 2015.
Indonesia's central bank, Bank Indonesia, expects deflation of about 0.9 percent in September 2013. Statistics Indonesia, on the other hand, believes there will be limited inflation this month. Both institutions agree, however, on a forecast of at least 9 percent of inflation over full-year 2013. The bank's September forecast is based on a survey that was conducted in the second week of September. This survey showed that food commodities and government administered prices eased.
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