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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, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
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- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
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- Tata Chemicals Ltd - India
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- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
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- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Wilmar Investment Holdings
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- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
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- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
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- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
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