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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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Wednesday, 29 June 22
LNG MARKET REMAINS TIGHT - INTERMODAL
LNG market remains tight currently, mainly driven by the US LNG outage from the recent fire in Freeport LNG terminal together with the recent fall ...
Wednesday, 29 June 22
CHINA'S NEW PLAN FOR RENEWABLE ENERGY DEVELOPMENT FOCUSES ON CONSUMPTION - FITCH RATINGS
China’s focus on consumption penetration for renewable energy development in its recently released 14th five-year plan – 2021 to 2025 & ...
Wednesday, 29 June 22
APAC CORPORATE SECTOR OUTLOOKS SHIFT AMID GLOBAL SHOCKS - FITCH RATINGS’
Fitch Ratings’ mid-2022 corporate sector outlook review revealed that the Asia-Pacific (APAC) region saw the largest number of sector outlook ...
Thursday, 16 June 22
MARKET INSIGHT - INTERMODAL
Picking up from my last insight in March, on the early days of the invasion, it's worth pointing out the way that the fast-paced working enviro ...
Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
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- Semirara Mining Corp, Philippines
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- Gujarat Electricity Regulatory Commission - India
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- Posco Energy - South Korea
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- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
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- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
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- Ministry of Mines - Canada
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- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
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- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
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- Sindya Power Generating Company Private Ltd
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- Merrill Lynch Commodities Europe
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- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
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- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
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- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
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- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- PTC India Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
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- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
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