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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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Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
Wednesday, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
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- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
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- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
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- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Central Electricity Authority - India
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- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
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- Rashtriya Ispat Nigam Limited - India
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- Attock Cement Pakistan Limited
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- The Treasury - Australian Government
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- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
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- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
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- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
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- White Energy Company Limited
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
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- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
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- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
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- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
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- Wilmar Investment Holdings
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- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
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- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
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- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
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