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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 $240 per tonne for crude palm oil, depending on prices.
High palm oil stocks have forced mills to limit purchases of palm fruits. Farmers have complained their unsold fruits have been left to rot.
There were 7.23 million tonnes of crude palm oil in storage tanks at the end of May, data from the Indonesian Palm Oil Association (GAPKI) showed on Friday.
GAPKI welcomed the new measure, but it recommended the DMO rules be removed too, its secretary general Eddy Martono said.
“For now remove the DMO … until stocks drop to 3 million to 4 million tonnes. Our problem now is the inventory is too high,” he told Reuters.
Source: Reuters
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Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Altura Mining Limited, Indonesia
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- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
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- Videocon Industries ltd - India
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- Bhatia International Limited - India
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- Ministry of Transport, Egypt
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- London Commodity Brokers - England
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
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- Chamber of Mines of South Africa
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- Indonesian Coal Mining Association
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- Merrill Lynch Commodities Europe
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- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
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- Directorate General of MIneral and Coal - Indonesia
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- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
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- Interocean Group of Companies - India
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- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
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- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
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- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
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- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
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- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
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- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
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- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
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- White Energy Company Limited
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- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
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- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
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- Attock Cement Pakistan Limited
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
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- Petrochimia International Co. Ltd.- Taiwan
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- LBH Netherlands Bv - Netherlands
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- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Petron Corporation, Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
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- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
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