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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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Saturday, 01 February 20
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Saturday, 01 February 20
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Saturday, 01 February 20
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Friday, 31 January 20
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Thursday, 30 January 20
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- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- The University of Queensland
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
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