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