India’s Coal Imports on the Rise as Prices Fall

NEW DELHI, April 14 (Reuters) – Coal imports into India, the world’s third largest purchaser, jumped 33.5 p.c within the final fiscal 12 months to 242.4 million tonnes as decrease purchases by China depressed costs and helped customers elsewhere, preliminary knowledge from on-line dealer mjunction confirmed.

Indian energy corporations usually depend upon imports for about 15 p.c of their annual wants however that determine seems to be set to climb because of a steady fall in costs, which has raised the urge for food for overseas coal.

Imports in March have been estimated to have risen 80 p.c to 24.73 million tonnes, based on mjunction knowledge primarily based on data from delivery corporations, ports and different sources.

Government knowledge on imports typically comes with a lag and varies with these from personal companies like mjunction, which collects knowledge from a larger variety of ports and consists of further coal grades.

“Going by existing trends and a soft trend in international markets, India’s coal import of all types in 2015-16 would be more than 260 million tonnes,” mjunction Chief Executive and Managing Director Viresh Oberoi mentioned in an electronic mail on Tuesday.

Coal Secretary Anil Swarup estimated imports of 200 million tonnes for 2014/15 and 160 million tonnes for the 2015/16 fiscal 12 months. ]

According to official knowledge, India imported 168.4 million tonnes in 2013/14, whereas mjunction put the determine at 181.58 million. (Reporting by Krishna N. Das; Editing by Crispian Balmer)