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