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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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Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
Thursday, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Oldendorff Carriers - Singapore
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- Parliament of New Zealand
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- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
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- Indian Energy Exchange, India
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- CNBM International Corporation - China
- Planning Commission, India
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- Standard Chartered Bank - UAE
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- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
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- Energy Development Corp, Philippines
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- Bharathi Cement Corporation - India
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- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
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- Coalindo Energy - Indonesia
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- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
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- Uttam Galva Steels Limited - India
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- Electricity Authority, New Zealand
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- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
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- Vedanta Resources Plc - India
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- Central Electricity Authority - India
- Romanian Commodities Exchange
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- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Economic Council, Georgia
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- Chamber of Mines of South Africa
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- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
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- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
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