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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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Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
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- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- The University of Queensland
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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