Coal imports fell by 25% to 14.31 MT in Dec
Coal imports fell by 25% to 14.31 million tonnes (mt) in December, due to higher availability of domestic fuel.
The Country had imported 19.15 mt of coal in December 2015.
“Coal import (all type of coals) in December 2016 stood at 14.31 mt (provisional) against 19.15 mt in December 2015,” mjunction, an online procurement and sales platform floated jointly by State-run SAIL and Tata Steel said.
The coal import in November, 2016 was at 12.51 mt. “Year-on-year imports were lower because public sector power generation companies have virtually stopped buying imported coal as they are getting almost sufficient supplies of domestic coal,” mjunction CEO Vinaya Varma said.
Further, Varma said, there was sharp increase in non-coking coal imports in December as compared to November last year as non-power sector consumers started stocking up the material in the aftermath of softness in international prices towards end of November. Expressing concern over import of coal despite being surplus in the dry fuel, Coal and Power Minister Piyush Goyal had earlier said that Coal India has set a target to replace about 15 mt of imported coal with indigenous fuel in the next few months.
Helped by a record coal production by the World’s largest coal miner Coal India, India reduced its import bill of the dry fuel by more than INR 28,000 crore in the last fiscal.
Tag Keyword: Coal Imports , Domestic Fuel , Public Sector Power