: India 2019 thermal coal imports rise 12.6% to nearly 200 mn tonnes: Govt #FinanceIndia #StockMarketNEWS #Business Reuters New Delhi India’s thermal coal imports rose 12.6% to nearly 200

@StockMarketNEWS Sun 15 Mar, 2020

Posted in: #Business #FinanceIndia #StockMarketNEWS

India 2019 thermal coal imports rise 12.6% to nearly 200 mn tonnes: Govt #FinanceIndia #StockMarketNEWS #Business
Reuters



New Delhi



India’s thermal coal
imports rose 12.6% to nearly 200 million tonnes in 2019, government data
reviewed by Reuters showed, reflecting the second straight year of growth in
shipments of the fuel despite attempts by the government to cut imports.



Coal is among the top
five commodities imported by India, the world’s second largest consumer,
importer and producer of the fuel.



Imports of thermal coal
– mainly used for power generation – jumped 12.6% to 197.84 million tonnes in
2019. However, imports of coking coal – used mainly in the manufacturing of
steel – fell marginally, following two straight years of increase, government
data showed.



India imported 51.33
million tonnes of coking coal in 2019, down from 51.63 million tonnes in 2018,
the data showed.



While higher coal
imports may be bad news for the Indian government, they benefit international
miners such as Indonesia’s Adaro Energy, U.S. coal miner Peabody Energy Corp
and global commodity merchants such as Glencore.



Indonesia accounted for
nearly 60% of India’s thermal coal imports in the April-December period,
government data showed, while South Africa accounted for 22 percent and Russia
and Australia accounting for over 5% each.



Traders say coal imports
grew largely due to lower production by Coal India Ltd, whose output fell for
five consecutive months ending November due to the highest annual rainfall in
25 years and frequent outages including strikes by workers and locals.



Higher coal shipments to
India were also due to increased imports by Indian utilities, whose imports
rebounded after a three-year slide mainly due to increased purchases by an
Adani Power plant in western India.
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