India’s Coal Imports Rise 4% In April-November
Freight wagons filled with coal line the railways tracks. (Photographer: Andrey Rudakov/Bloomberg)  

India’s Coal Imports Rise 4% In April-November

Bookmark

The country’s coal imports registered an increase of 4.4 percent to 161.43 million tonnes in the April-November period of the ongoing fiscal.

This comes amid the government exuding hope that imports of the fossil fuel would be contained to 235 MT this financial year. India had imported 154.56 MT of coal in April-November 2018, according to a report by mjunction services— a joint venture between Tata Steel Ltd. and SAIL.

“On a progressive basis (April-November 2019) (provisional), total coal imports were recorded at 161.43 MT, a 4.45 percent increase against 154.56 MT imported for the same period last year (April-November 2018),” it said.

Coal imports in November declined by marginal 0.8 percent to 17.80 MT, against 17.95 MT in the same month last fiscal.

“The weak demand from the thermal power sector and an increase in seaborne prices, especially for the South African material, led to a slight drop in volumes during the month. With domestic production set to rise in the fourth quarter (January-March), import demand is expected to be subdued in coming months,” mjunction Managing Director and Chief Executive Officer Vinaya Varma said.

Recently, a top official at the coal ministry had said the coal position in the country was very comfortable.

The country produced 730.35 MT of coal in fiscal year 2019, while the imports were 235.24 MT. India’s coal imports stood at 208.2 MT in 2017-18 and 190.95 MT in 2016-17.

Also read: How To Sign Up For BloombergQuint Story Notifications

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.