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India's coal imports increased by 5.3% to 52.29 million tonnes (MT) in the first two months of the current fiscal year compared to the same period last year. According to data produced by mjunction services ltd, a B2B e-commerce platform created by a joint venture between Tata Steel and SAIL, the country's coal imports in April and May of FY24 were 49.62 million tonnes.
However, coal imports fell somewhat in May to 26.19 MT, down from 26.57 MT the previous year. "Coal imports... were down 1.43% as against 26.57 MT imported in May 2023," it said.
Also, coking coal prices are expected to increase in the seaborne market due to supply tightness, which may impact buyers' interest in the country. Of the total imports in May, non-coking coal imports stood at 17.53 MT, against 18.10 MT imported in May last year. Coking coal import volume was 5.03 MT, against 5.10 TMT imported in May 2023. Coal India accounts for over 80% of domestic coal output.
After taking charge as coal and mines minister, G Kishan Reddy said India should increase domestic fossil fuel production and reduce coal imports. Reddy said that 10 years ago, there was a coal shortage in the country, which resulted in an electricity shortage. But in the last 10 years, there has been sufficient power availability, he said.
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