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India's coal imports increased by 7.7% to 268.24 million tonnes (MT) in FY24, owing to low seaborne prices and the possibility of an increase in power consumption during the summer. The country imported 249.06 MT of coal in FY23, according to data provided by B2B e-commerce startup mjunction services.
Coal imports in March FY24 increased to 23.96 MT, up from 21.12 MT in the same month the previous fiscal.
Non-coking coal imports totalled 15.33 million tonnes in March 2024, up from 13.88 million tonnes in March FY23. Coking coal imports in March 2024 were 5.34 MT, up from 3.96 MT the previous year.
During FY24, non-coking coal imports were 175.96 MT, higher than the 162.46 MT imported during FY23. Coking coal imports were 57.22 MT in 2023-24, against 54.46 MT in 2022-23.
"There was an increase in coal import volumes due to the continued softness in seaborne prices and expectation of a demand uptick during the summer season. However, as domestic coal is available in the market, it is to be seen if import demand remains strong in coming months," mjunction MD & CEO Vinaya Varma said.
The all-India coal production during 2023-24 was 997.25 MT, registering a growth of 11.65% over FY23.
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