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