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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
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