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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, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
Tuesday, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
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- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- SMC Global Power, Philippines
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