The country’s coal imports increased by five percent to 5.22 crore tonnes in April-May: Report

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Data from B2B e-commerce platform ‘Mjunction Services Ltd’, a joint venture of Tata Steel and SAIL, has revealed that the country’s coal imports in the first two months of the current fiscal year rose 5.3 per cent to 52.2 million tonnes as compared to the same period a year ago.

New Delhi. The country’s coal import in the first two months of the current financial year has increased by 5.3 percent to 5.22 crore tonnes as compared to the same period a year ago. This information has been received from the data of B2B e-commerce platform ‘Mjunction Services Limited’, a joint venture of Tata Steel and SAIL. Coal import in April and May of the previous financial year was 4.96 crore tonnes. However, coal import in May has decreased marginally to 2.61 crore tonnes. In May last year it was 2.65 crore tonnes. Coal import in May has decreased by 1.43 percent.

Mjunction Managing Director and Chief Executive Officer (CEO) Vinay Verma said that due to the onset of monsoon, import demand is likely to remain low in the coming weeks, while production growth in the domestic market should remain good. Apart from this, due to lack of supply, the prices of coking coal coming through sea route may rise. This may affect the interest of buyers in the country.

The share of non-coking coal in total coal imports in May was 17.5 million tonnes, as against 18.1 million tonnes in May last year. Coking coal imports stood at 50.3 lakh tonnes in May as against 51 lakh tonnes in May 2023. Coal India’s share in domestic coal production is more than 80 per cent. Coal and Mines Minister G Kishan Reddy recently said that India should increase domestic production of fossil fuels and try to reduce coal imports.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.



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