India's Coal Imports Rise 6% in Q1 FY24: mjunction Data

New Delhi, Aug 11 (PTI) India's coal import rose by 5.7 per cent to 75.26 million tonnes (MT) in the first quarter of the current fiscal compared to 71.16 MT of coal in the same period of the previous fiscal.

Coal imports in June were also higher by 6.59 per cent at 22.97 MT compared to 21.55 MT in the same month of the previous fiscal, according to data compiled by mjunction services ltd, a B2B e-commerce platform from a joint venture between Tata Steel and SAIL.

mjunction MD and CEO Vinaya Varma said that given the surplus coal available in the system and the slowdown in industrial activity during monsoon, import demand is likely to remain subdued in the coming month.

Of the total imports in June 2024, non-coking coal imports stood at 14.19 MT, higher than 13.29 MT imported in June last year. Coking coal imports were at 5.45 MT, against 5.33 MT imported in June 2023.

During April-June 2024, non-coking coal imports were at 49.12 MT, higher than 46.53 MT imported during the same period last year. Coking coal imports stood at 15.45 MT during April-June 2024, against 15.20 MT recorded for April-June 2023.

India's coal import rose by 7.7 per cent to 268.24 million tonnes in FY24 driven by softness in seaborne prices and likelihood of increase in power demand during summer. The country's coal import was 249.06 MT in FY23.

Coal Minster G Kishan Reddy had earlier said that India should increase domestic production of fossil fuel and reduce coal imports.

The domestic coal production rose by 11.71 per cent to 997.828 MT in 2023-24 compared to 893.191 MT in 2022-23.