India's Coal Imports Surge by 7.7% to 268.24 MT in FY24

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Synopsis:

India's coal imports in FY24 increased by 7.7% to 268.24 MT, fueled by lower seaborne prices and expected summer demand. Non-coking coal imports stood at 175.96 MT, and coking coal imports reached 57.22 MT, reflecting a significant rise.

Coal Import Data News Today

India's coal import surged by 7.7% to 268.24 million tonnes (MT) in the fiscal year 2023-24, compared to 249.06 MT in FY23. The rise in coal import volumes is attributed to the continued softness in seaborne prices and the expectation of increased demand during the summer season.

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A Significant Increase

Coal imports in March FY24 rose to 23.96 MT, marking a noticeable increase from 21.12 MT in the corresponding month of the previous fiscal year.

Non-Coking Coal Import

In March 2024, non-coking coal imports reached 15.33 MT, a rise from 13.88 MT in March FY23. For the entire FY24, non-coking coal imports stood at 175.96 MT, higher than the previous fiscal's 162.46 MT.

Coking Coal Import

Coking coal import in March 2024 was 5.34 MT, up from 3.96 MT a year ago. In FY24, coking coal imports reached 57.22 MT, compared to 54.46 MT in FY23.

Domestic Production

Despite the rise in imports, India's coal production during 2023-24 also witnessed growth, reaching 997.25 MT, a significant increase of 11.65% over FY23.

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Future Outlook

While the import demand surged due to favourable pricing and seasonal demand, the availability of domestic coal may influence import trends in the coming months.

Sources:

https://www.business-standard.com/industry/news/india-s-coal-import-surges-8-to-268-mt-in-fy24-due-to-rise-in-power-demand-124051200141_1.html

https://zeenews.india.com/economy/indias-coal-imports-surge-8-to-268-million-tonnes-in-fy24-2748717.html

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