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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, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- The University of Queensland
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
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