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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, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
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- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Economic Council, Georgia
- Australian Coal Association
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
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