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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, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
Tuesday, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
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- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
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