JAKARTA— Indonesia Trade Minister Muhammad Lutfi said on Tuesday the government would bring down its combined maximum crude palm oil export and levy rate to $488 per tonne from $575 per tonne to encourage shipments. Indonesia, the world’s biggest palm oil producer, has allowed palm oil exports to resume after a three-week ban, but progress…
Indonesia to Cut Maximum Palm Oil Export Tax and Levy to a Combined $488 per Tonne—Trade Minister
June 8, 2022
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Indonesia to Cut Maximum Combined Palm Oil Export Tax and Levy: Trade Minister
June 8, 2022
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JAKARTA—Indonesia will slash its combined maximum crude palm oil export and levy rate to $488 per metric ton from $575 to encourage shipments, Trade Minister Muhammad Lutfi said on June 7. Indonesia, the world’s biggest palm oil producer, has allowed palm oil exports to resume after a three-week ban, although progress has been slow due…
German Exports Bounce Back in April From Ukraine War Impact
BERLIN—German exports rose more than forecast in April, as Europe’s biggest economy relied on trade with the United States and the euro area to recover from the initial impact of the war in Ukraine, government data showed on Friday. Exports rose 4.4 percent from the previous month, the Federal Statistical Office said, almost three times…
Russia Limits Exports of Noble Gases, a Key Ingredient for Making Chips
June 3, 2022
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Business & Economychipscommoditieseconomic policiesEuropeexportgaseskryptonMarketsneonnobleRussiaRussia-Ukraine WarsanctionsUkrainewarWorldxenon
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Sanctions-hit Russia has limited exports of noble gases such as neon, a key ingredient for making chips, until the end of 2022 to strengthen its market position, its trade ministry said on Thursday. Russia’s export curbs could worsen the supply crunch in the global chips market. Ukraine was one of the world’s largest suppliers of…
China’s Exports Growth Hits 2 Year-Low as COVID Curbs Hit Factories
BEIJING—China’s export growth slowed to single digits, the weakest in almost two years, while imports barely changed in April as tighter and wider COVID-19 curbs halted factory production and crimped domestic demand, adding to wider economic woes. Exports in dollar terms grew 3.9 percent in April from a year earlier, dropping sharply from the 14.7…
Indonesia Industry Body Confident Palm Oil Export Ban Could End in May
JAKARTA—Indonesia should be able to tackle its cooking oil shortage in the next few weeks and lift an export ban on palm oil and its refined products in May, an industry body said on Thursday, a day after a last-minute policy U-turn sparked more alarm for markets. The world’s top palm oil producer expanded an…
Russia Warns of Sharp Caspian Pipeline Oil Export Drop After Storm
March 24, 2022
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Russian and Kazakhstan oil exports via the Caspian Pipeline Consortium (CPC) from the Black Sea may fall by up to 1 million barrels per day (bpd), or 1 percent of global oil production, due to storm-damaged berths, a Russian official said on Tuesday. Pavel Sorokin, a deputy energy minister, said the second berth could also…
Argentina Halts Export Registration for Soy Oil, Meal
March 15, 2022
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BUENOS AIRES—Argentina has halted registration of export sales of soy oil and meal, the South American country’s government said in a statement on Sunday, drawing swift condemnation from the industry in the world’s top exporter of processed soy products. The move stops sales and exports of the 2021/22 crop, but physical shipments have not started…
Moscow Retaliates Against Western Sanctions With Export Bans
March 10, 2022
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Russia sought on Thursday to retaliate against Western sanctions imposed over its invasion of Ukraine by banning exports of certain goods and agricultural commodities. Exporting telecom, medical, auto, agricultural, electrical, and tech equipment, as well as some forestry products, will be banned until the end of 2022. “These measures are a logical response to those…
China Exports Expand in Early 2022 as Trade With Russia Surges to High
March 7, 2022
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China’s exports grew at the beginning of 2022, propped up by record-high trade volume with Russia amid the unfolding Ukraine crisis, official data showed on March 7. The output rose 16.3 percent in January and February from a year earlier, beating analysts’ expectations for a 15.0 percent raise, China Customs said on Monday. Its bilateral…
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