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