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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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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- White Energy Company Limited
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- VISA Power Limited - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
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