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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, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
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- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
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- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Planning Commission, India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
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- Merrill Lynch Commodities Europe
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- Dalmia Cement Bharat India
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- Gujarat Mineral Development Corp Ltd - India
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- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sindya Power Generating Company Private Ltd
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- GMR Energy Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
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- Edison Trading Spa - Italy
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- Bhushan Steel Limited - India
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- Larsen & Toubro Limited - India
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- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
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- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
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- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
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- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Indika Energy - Indonesia
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- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
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- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
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- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
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- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
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- Savvy Resources Ltd - HongKong
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- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
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- ASAPP Information Group - India
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