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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, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
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- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
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- Tamil Nadu electricity Board
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- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
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- PetroVietnam Power Coal Import and Supply Company
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- Karbindo Abesyapradhi - Indoneisa
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- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
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- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
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