India’s coal import rose by 7.7% to 268.24 million tonne (MT) in FY24 pushed by softness in seaborne costs and probability of improve in energy demand throughout summer time. The nation’s coal import was 249.06 MT in FY23, based on knowledge compiled by B2B e-commerce firm mjunction providers.
Coal import in March FY24 additionally rose to 23.96 MT, over 21.12 MT within the corresponding month of the earlier fiscal.
Of the entire quantity recorded in March 2024, non-coking coal import stood at 15.33 MT, towards 13.88 MT in March FY23. Coking coal import in March 2024 was 5.34 MT towards 3.96 MT a 12 months in the past.
Throughout FY24, non-coking coal import was at 175.96 MT, larger than 162.46 MT imported throughout FY23. Coking coal import was at 57.22 MT in 2023-24, towards 54.46 MT in 2022-23.
“There was a rise in coal import volumes as a result of continued softness in seaborne costs and expectation of a requirement uptick throughout the summer time season. Nonetheless, as there’s ample availability of home coal available in the market, it’s to be seen if import demand stays robust in coming months,” mjunction MD & CEO Vinaya Varma stated.
The all-India manufacturing of coal throughout 2023-24 was at 997.25 MT, registering a development of 11.65% over FY23.
