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Indicating sufficient coal availability in the market, the National Coal Index (NCI) declined 4.75% in December.
The NCI was at 155.44 points in December 2022, the coal ministry said in a statement on Thursday.
This decline shows a strong supply of coal in the market, with sufficient availability to meet the rising demand. NCI is a price index that combines coal prices from all sales channels, including auction and import prices.
It considers prices of coking and non-coking coal of various grades transacted in the regulated (power and fertiliser) and non-regulated sectors.
"The National Coal Index (Provisional) has shown a significant decline of 4.75% in December 2023 at 155.44 points compared to December 2022, where it was at 163.19 points," the coal ministry said in a statement.
Established with the base year as 2017-18, the price index serves as a reliable indicator of market dynamics, providing valuable insights into price fluctuations.
"The downward trajectory of the NCI signifies a more equitable market, harmonising supply, and demand dynamics. With sufficient coal availability, the nation can not only address burgeoning demands but also underpin its long-term energy requisites, thereby fortifying a more resilient and sustainable coal industry and fostering a prosperous future for the nation," the ministry said.
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