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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, 22 September 21
MARKET INSIGHT - INTERMODAL
The unfolding last week of a trilateral defence pact between the United States, Australia, the United Kingdom (AUKUS) envisages a wide range of col ...
Tuesday, 21 September 21
CHINESE COAL IMPORTS FROM AUSTRALIA DROP 98.6% AS RESTRICTIONS BITE - BIMCO
In the first seven months of the year Chinese coal imports from Australia have totalled just 780,000 tonnes as Chinese restrictions on Australian c ...
Tuesday, 21 September 21
CHINA'S COAL OUTPUT RESUMES GROWTH IN AUGUST - XINHUA
China’s raw coal output rose 0.8 percent year on year to 340 million tonnes last month, official data showed.
The growth rate ...
Wednesday, 15 September 21
MARKET INSIGHT - INTERMODAL
Following the oil price sell off during most of August, partly triggered by oil demand fears amid the delta COVID variant, oil prices have resumed ...
Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
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- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
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- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
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- Indian Oil Corporation Limited
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- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
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- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
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- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
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- Romanian Commodities Exchange
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- Planning Commission, India
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- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Parliament of New Zealand
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- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
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- Merrill Lynch Commodities Europe
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- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
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