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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, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- London Commodity Brokers - England
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Aditya Birla Group - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
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