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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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Saturday, 08 May 21
THE COAL-TO-RENEWABLES TRANSITION TAKES OFF - IEEFA
Pre-Biden changes underscore coming 10-year wave of coal plant retirements
The traditional S-curve growth exhibited by disruptive te ...
Friday, 07 May 21
CHINA'S TOTAL COAL IMPORTS FOR 2020 REACHED A VOLUME OF 304 MILLION TONS - ASSOCARBONI
Our benchmarks, manufacturing Countries like China, Germany, Japan, India, South Korea and Taiwan will continue to use a mix of coal and nuclear to ...
Friday, 07 May 21
SEABORNE WORLD COAL TRADE CLOSED 2020 IN NEGATIVE - ASSOCARBONI
Coal confirmed its leadership as leading fuel for electricity generation also in 2020, accounting for 38% of overall production. For the first time ...
Friday, 07 May 21
INDONESIA'S THERMAL COAL EXPORTS IN 2020 DECREASED BY 13%; INDIA REMAINED THE TOP DESTINATION FOR INDONESIAN COAL - ASSOCARBONI
An increase in seaborne trade is forecast for 2022, driven by markets in Southeast Asia, where growing demand for coal from Bangladesh, the Philipp ...
Friday, 30 April 21
HIGH-SULPHUR FUEL OIL SALES REBOUND AFTER PRE-IMO 2020 - BIMCO
HSFO sales are up 47.2% from Q1 2020, reaching 3.1m tonnes. This is however still less than a third of high-sulphur fuel sales in Q1 2019, before t ...
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- Singapore Mercantile Exchange
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- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Goldman Sachs - Singapore
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- Commonwealth Bank - Australia
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- Global Business Power Corporation, Philippines
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- Planning Commission, India
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- Edison Trading Spa - Italy
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- Barasentosa Lestari - Indonesia
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- Samtan Co., Ltd - South Korea
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- India Bulls Power Limited - India
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- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
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- Bulk Trading Sa - Switzerland
- White Energy Company Limited
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- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
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- Bharathi Cement Corporation - India
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- MS Steel International - UAE
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
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- Port Waratah Coal Services - Australia
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- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
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- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
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