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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, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recor ...
Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the st ...
Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...
Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...
Tuesday, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
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- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
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- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- VISA Power Limited - India
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- PTC India Limited - India
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- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
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- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
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- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
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- Cement Manufacturers Association - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Planning Commission, India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
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