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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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- Uttam Galva Steels Limited - India
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- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
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- Thai Mozambique Logistica
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- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
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- Gujarat Sidhee Cement - India
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- Parliament of New Zealand
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- The University of Queensland
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- AsiaOL BioFuels Corp., Philippines
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- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
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- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
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- Electricity Generating Authority of Thailand
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- PowerSource Philippines DevCo
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- Samtan Co., Ltd - South Korea
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- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
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- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
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- Planning Commission, India
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- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
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- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
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- Lanco Infratech Ltd - India
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- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
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- Meenaskhi Energy Private Limited - India
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- Indo Tambangraya Megah - Indonesia
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- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
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- The State Trading Corporation of India Ltd
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- Metalloyd Limited - United Kingdom
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- Australian Coal Association
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- Bukit Asam (Persero) Tbk - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
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- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
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- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
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- Barasentosa Lestari - Indonesia
- PTC India Limited - India
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- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
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- Sical Logistics Limited - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
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- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
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- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
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- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
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- Parry Sugars Refinery, India
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