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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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Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
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- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
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- Meralco Power Generation, Philippines
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- Merrill Lynch Commodities Europe
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- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
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- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Interocean Group of Companies - India
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- Minerals Council of Australia
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- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
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- Parliament of New Zealand
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- White Energy Company Limited
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- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
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- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
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- Georgia Ports Authority, United States
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- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
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- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
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- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
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- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
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- Electricity Authority, New Zealand
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- Australian Coal Association
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- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
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- Kalimantan Lumbung Energi - Indonesia
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- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
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- Kumho Petrochemical, South Korea
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- Eastern Coal Council - USA
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- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
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- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
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- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
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- Oldendorff Carriers - Singapore
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- Sarangani Energy Corporation, Philippines
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- Central Electricity Authority - India
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- Bhoruka Overseas - Indonesia
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- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
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- Bukit Makmur.PT - Indonesia
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- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
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