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Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finance ministry officials said on Saturday, adding the move would not disrupt government revenues.
The decision by the world’s biggest palm oil exporter could further depress prices FCPOc3, which have fallen by about 50% since late April to their lowest in over a year.
Indonesian palm oil producers have been struggling with high inventories since the country imposed a three-week export ban through to May 23 to reduce domestic cooking oil prices.
Since lifting the ban, Jakarta has implemented rules on mandatory local sales – known as the domestic market obligation (DMO) – to keep produce at home to be made into cooking oil.
At the same time, it has tried to clear up storage tanks by cutting export taxes and launching a shipment acceleration programme, but exports remained slow and companies have blamed the DMO rules, as well as problems with securing cargo vessels.
The levy removal is intended to further support exports, Febrio Kacaribu, the ministry’s head of fiscal policy agency, told reporters on the sideline of a G20 finance meeting in Bali.
“In the context of government revenues, (the impact) won’t be too big,” he said.
Finance Minister Sri Mulyani Indrawati said a progressive palm oil export levy would be applied starting Sept. 1, with the rate set between $55 and $240 per tonne for crude palm oil, depending on prices.
High palm oil stocks have forced mills to limit purchases of palm fruits. Farmers have complained their unsold fruits have been left to rot.
There were 7.23 million tonnes of crude palm oil in storage tanks at the end of May, data from the Indonesian Palm Oil Association (GAPKI) showed on Friday.
GAPKI welcomed the new measure, but it recommended the DMO rules be removed too, its secretary general Eddy Martono said.
“For now remove the DMO … until stocks drop to 3 million to 4 million tonnes. Our problem now is the inventory is too high,” he told Reuters.
Source: Reuters
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Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
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- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
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- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
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- Aditya Birla Group - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
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- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
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- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
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- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
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- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
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- PTC India Limited - India
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- Intertek Mineral Services - Indonesia
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- Thai Mozambique Logistica
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- McConnell Dowell - Australia
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- Indian Oil Corporation Limited
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- Jorong Barutama Greston.PT - Indonesia
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- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
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- VISA Power Limited - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
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- Formosa Plastics Group - Taiwan
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- Indo Tambangraya Megah - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
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- Tamil Nadu electricity Board
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- Coal and Oil Company - UAE
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- Marubeni Corporation - India
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- Minerals Council of Australia
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- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
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- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
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- Sical Logistics Limited - India
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- Banpu Public Company Limited - Thailand
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- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
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- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- White Energy Company Limited
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
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- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
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- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
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