New Delhi : Data from B2B e-commerce platform mjunction services shows that India experienced a 40.56 per cent increase in coal imports to 25.23 million tonnes in July. In the same month of the previous fiscal year, the country imported 17.95 million metric tons of coal. It was reported that coal imports increased to 100.48 MT in the April-July period of the current fiscal year from 89.11 MT in the previous year.
Vinaya Varma, MD & CEO of mjunction, mentioned that there is expected to be a strong import demand in the upcoming weeks before the festive season next month. Imports of non-coking coal increased despite prices softening in the seaborne market. mjunction services reported a decrease in coking coal volumes caused by weak demand from the steel mills. In July, non-coking coal accounted for 16.52 MT of total imports, compared to 10.16 MT in the previous year's July. The amount of coking coal imported was 4.81 MT, compared to 5.03 MT in the previous fiscal July.
In the period from April to July, there was an increase in non-coking coal imports to 65.64 MT from 56.69 MT the previous year. There was a slight increase in coking coal import to 20.26 MT from 20.24 MT. The Minister of Coal and Mines, G Kishan Reddy, previously mentioned that India needs to boost its local coal production and decrease the reliance on coal imports. India saw a 7.7 percent increase in coal imports to reach 268.24 MT in FY24. Coal production increased by 6.36 per cent year-on-year in July, reaching 74 MT. In April-July, India's coal production totaled 321.39 MT, marking a 9.6 pc increase compared to the previous year.
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