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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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Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
Friday, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
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- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
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