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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 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
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- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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