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