India imported 52 MT of coal in April and May, an increase of 5%

8 Jul 2024 , 11:24 AM

In the first two months of the current fiscal year, India’s imports of coal increased 5.3% to 52.29 million tonnes (MT) compared to the same period last year. In April and May of FY24, the nation imported 49.62 MT of coal, according to statistics from mjunction services ltd, a B2B e-commerce platform derived from a joint venture between Tata Steel and SAIL.

But from 26.57 MT in May of last year to 26.19 MT in May of this year, coal imports decreased somewhat.

“Coal imports… were down 1.43% as against 26.57 MT imported in May 2023,” said the report.

The start of the monsoon is expected to keep the need for imports muted in the upcoming weeks, according to mjunction MD and CEO Vinaya Varma, while the domestic market’s production growth should continue to be robust.

Due to a shortage of supply, coking coal prices are also anticipated to rise in the maritime market, which could affect foreign purchasers’ interest in the nation.

Non-coking coal imports made up 17.53 MT of all imports in May compared to 18.10 MT in the same month the previous year. Compared to 5.10 TMT imported in May 2023, the volume of coking coal imported was 5.03 MT.

More than 80% of the country’s coal production comes from Coal India.

G Kishan Reddy, the country’s new minister of coal and mines, has previously stated that India had to produce more coal domestically and import less of the fossil fuel.

Reddy had stated that the nation experienced a lack of coal ten years prior, which led to a shortage of energy. However, he claimed that there has been enough power available for the past ten years.

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