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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, 04 March 20
CORONAVIRUS: A WILDCARD FOR BULKS DEMAND - WOOD MACKENZIE
The coronavirus is casting a shadow across commodity markets. It has undermined China’s economic sentiment, putting the country’s growt ...
Wednesday, 04 March 20
THERMAL COAL TO 'PHASE OUT', STRONG DEMAND FOR COKING COAL: PLATO - SYDNEY MORNING HERALD
Plato Investments managing director Don Hamson says Australian iron ore producers are set to benefit in the fallout from coronavirus as China will ...
Wednesday, 04 March 20
CHINA PROVINCE TO CLOSE 10 MLN TONNES OF COAL CAPACITY IN 2020 - XINHUA
Southwest China’s Guizhou Province plans to phase out 10 million tonnes of outdated coal production capacity by closing 80 coal mines in 2020 ...
Wednesday, 04 March 20
UKRAINE PRODUCED OVER 2.55 MLN TONNES OF COAL IN FEBRUARY - UKRINFORM
In February 2020, Ukraine produced over 2.55 million tonnes of coal, which is 0.2% less than planned.
The Coal Miners Union of Ukrai ...
Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
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- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Thai Mozambique Logistica
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