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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Tamil Nadu electricity Board
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- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Sindya Power Generating Company Private Ltd
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- Coalindo Energy - Indonesia
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- Semirara Mining Corp, Philippines
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- Bhoruka Overseas - Indonesia
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- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
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- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
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- The University of Queensland
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- Indian Oil Corporation Limited
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- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Independent Power Producers Association of India
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- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
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- Gujarat Electricity Regulatory Commission - India
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- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
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- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Planning Commission, India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
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- Sical Logistics Limited - India
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- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
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