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