Saturday, 20 July 2024
Trending
BusinessCommodity

In August, India’s imports of coal fell by 12%

  • In August of this year, India‘s imports of coal decreased by 12.08% to 18.26 million tonnes.
  • Imports of coking coal were 4.62 MT, the same amount that was recorded in August of FY23.
  • The Center has decided that the total coal production goal for 2023–2024 will be 1012 MT.

In August of this year, compared to the same month in the prior year, India’s imports of coal decreased by 12.08% to 18.26 million tonnes (MT). In August of the previous year, the country’s fossil fuel imports totaled 20.77 MT.

Data gathered by Mjunction Services Ltd shows that overall coal imports from April to August decreased by 10.3% to 103.93 MT from 115.93 MT in the same period last year. An important B2B e-commerce company is Mjunction Services Ltd.

Imports of coal

Non-coking coal imports made up 10.52 MT of the total imports in August, down from 13.85 MT in August of last year. Imports of coking coal were 4.62 MT, the same amount that was recorded in August of FY23.

The import of non-coking coal has decreased significantly (by about 20 MT) through August 2023. This came about as a result of the roughly 10% increase in domestic availability.

Unless there is a sharp increase in demand and a major decline in seaborne prices, we anticipate this trend to continue, according to Vinaya Varma, MD & CEO of Junction.

Non-coking coal imports during the months of April through August of the current fiscal year were 62.87 MT, which was less than the 80.64 MT imported during the same time last year. The imports of coking coal increased from 23.16 MT in April-August 2022-23 to 25.75 MT in April-August 2023-24.

More than 80% of the domestic coal production is attributed to Coal India. The Center has decided that the total coal production goal for 2023–2024 will be 1012 MT.

Related posts
BusinessIndia

Ambitious Blueprint to Transform India’s Electronics Sector by 2030

Aim to boost electronics manufacturing to $500 billion by FY30. Target includes $350 billion from…
Read more
BusinessTrending

India-UAE CEPA: Balancing Revenue Losses and Economic Opportunities

India-UAE CEPA to eliminate tariffs on gold and silver imports. Estimated ₹63,375 crore annual…
Read more
Business

Consumer Insights from PwC's 2024 Survey: Trust, Technology, and Sustainability

66% of Indian consumers willing to share data for personalization, yet 76% express privacy…
Read more
Newsletter
Become a Trendsetter

To get your breaking, trending, latest news immediately without diluting its truthfulness join with worldmagzine immediately.

Leave a Reply

Your email address will not be published. Required fields are marked *

IndiaTechnology

More Indian languages have been added to Microsoft Translator

Worth reading...