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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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- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
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