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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- The University of Queensland
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
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