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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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Friday, 06 March 20
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Thursday, 05 March 20
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- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
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- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
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- Standard Chartered Bank - UAE
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- Planning Commission, India
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- Directorate General of MIneral and Coal - Indonesia
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- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Petron Corporation, Philippines
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- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Posco Energy - South Korea
- The University of Queensland
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
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