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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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Thursday, 16 April 20
MARKET INSIGHT - INTERMODAL
As everyone anticipated the results of the OPEC + G20 meeting last week, it was very interesting to watch the reaction of tanker rates that were in ...
Monday, 13 April 20
SUPRAMAX: A 56,000DWT SHIP WAS FIXED DELIVERY PARADIP, REDELIVERY CHINA, AT $4,700 - BALTIC BRIEFING
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Saturday, 11 April 20
FAQ: COVID-19 AND CLUB COVER - UK P&I
KNOWLEDGE TO ELEVATE
The Coronavirus (COVID-19) pandemic has generated a significant number of enquiries and questions from Members in recent ...
Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
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Friday, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is ...
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- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
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