Coronavirus Outbreak: India's coal import drops over 27% to 16 MT in March due to restrictions imposed at various ports
India's coal import in March stood at 15.74 million tonnes (MT), down 27.5 percent over last year, due to restrictions imposed at various ports in the wake of coronavirus outbreak in the country
China, India pull back from Dec coal imports; but domestic utilities, steel makers hike overseas purchase
The authorities in Beijing have told coal traders and utilities they want imports for the whole year to be similar to the 279 million tonnes in 2017.
The total volume of imported coal rose to 168.4 million tonnes last fiscal and the government had estimated earlier this year that the domestic shortage would range between 185 and 265 million tonnes by 2016-17.
The fall in purchases from India is forcing Indonesian suppliers to seek other buyers or dump cargoes into the spot market, putting more pressure on international benchmark prices that are already near their lowest in four years.
Coal imports by Indian companies had touched a record of 137.56 MT last fiscal to meet the shortfall.
The Cabinet Committee on Economic Affairs (CCEA) approved the proposal to boost power generation by using imported coal as domestic output falls short of demand, triggering power cuts in several places.