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