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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, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
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- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
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- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
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- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
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- Petrochimia International Co. Ltd.- Taiwan
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- Salva Resources Pvt Ltd - India
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- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
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- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
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- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
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- Bangladesh Power Developement Board
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- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
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- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
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- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
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- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
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- PTC India Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
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- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
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