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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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Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
Wednesday, 14 June 17
WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
COALspot.com: The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as ...
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- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
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- Mintek Dendrill Indonesia
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- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
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- Coal and Oil Company - UAE
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- Electricity Authority, New Zealand
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- Metalloyd Limited - United Kingdom
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- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
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- Trasteel International SA, Italy
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- PTC India Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
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- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
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- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
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- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
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- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
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- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
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- Parliament of New Zealand
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- Gujarat Mineral Development Corp Ltd - India
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- Global Green Power PLC Corporation, Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
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- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Merrill Lynch Commodities Europe
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- Minerals Council of Australia
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- India Bulls Power Limited - India
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- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
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- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
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- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
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- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
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- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
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- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
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- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
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- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
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