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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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Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
Monday, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
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- Deloitte Consulting - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
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- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
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- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- White Energy Company Limited
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
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