Latest News
Home » COAL » Decline in Share of Coal Import

Decline in Share of Coal Import

There has been a reduction in the share of coal import in the total coal consumption in the country. The share of coal import declined to 21% during April 2023 to January 2024, which was 22.48% during the corresponding period of previous year.

There has been a reduction of 36.69% in the volume of coal imported for blending by thermal power plants, amounting to 19.36 million tons (MT) during April 2023 to January 2024, in contrast to the same period of the previous year. This reduction in imported coal for blending signifies a shift towards utilizing domestic coal, thus reducing reliance on imports.

Conversely, there has been a notable increase of 94.21% in coal imports by imported coal-based power plants during April 2023 to January 2024, compared to the corresponding period in the previous year. As these power plants are designed based on imported coal only, the growth can be attributed to a substantial decline in import prices of coal during the aforementioned period. India primarily imports thermal coal from South Africa and Indonesia, and average prices from these countries decreased by approximately 54% and 38% respectively during April 2023 to January 2024, compared to the corresponding period in the previous year.

Furthermore, there has been a substantial reduction in the auction premium received by CIL, over the notified price of coal. It has decreased from 278% in the period from April 2022 to January 2023, to 82% during the same period in the fiscal year 2023-24. The reduction in auction premium is a testament to the ample availability of coal (currently 96 MT coal stock with coal companies) in the market.

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Combined Index of Eight Core Industries (ICI) increases by 5.2 per cent (provisional) in March, 2024 as compared to March, 2023

The combined Index of Eight Core Industries (ICI) increased by 5.2 per cent (provisional) in March, 2024 ...

Coal Sector Shows Highest Growth of 11.6 % among Eight Core Industries in February 2024

The coal sector has exhibited highest growth of 11.6 % (provisional) among the eight core ...

One More Coking Coal Mine Auctioned on Third Day of Auctions On third day of ...

Diversification of Coal CPSE’s for Sustainable Energy Ecosystem

The Ministry of Coal is at the forefront of a transformative initiative aimed at diversifying ...

CIL Achieves Record Coal Production of 703.91 MT up to 7th March 2024

The Coal India Limited (CIL) has achieved a record production of 703.91 million tonnes (MT) ...

Year of Exponential Growth of Coal CPSEs

Last one year, coal CPSEs have witnessed an exponential growth commensurate with their contribution to ...

Coal Ministry’s Response to Allegations Raised Against Coal Auctions held in 2015

Recently, an article has been published in a section of media alleging that Union Government ...

Historical Coal Production growth: Cheaper and Assured Availability

Our country is endowed with 5th largest geological reserves of coal.  We are 2nd largest consumers of ...

Coal Production and Dispatch from Captive and Commercial Mines Goes up by 27% and 29% respectively during Current Fiscal upto February 2024

There is month on month (m-o-m) and year-on-year (yoy) increase in coal production and dispatch ...

Union Minister Pralhad Joshi launches “Coal Logistics Plan and Policy”

Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi has launched a groundbreaking ...

WP2Social Auto Publish Powered By : XYZScripts.com