India's coal import soars 32% to 149 MT in April-Feb 2023: Report

India's coal imports increased by 32 per cent to 148.58 million tonne (MT) in April-February FY23 as compared to 112.38 MT in the corresponding year, according to a report.

The import of coking coal surged 7.69 per cent to 50.50 MT during April-February FY23 period against 46.89 MT a year ago, mjunction said in its latest report.

In February 2023 alone, the non-coking coal import stood at 11.68 MT compared to 9.42 MT in the same month last year. Coking coal imports were 4.40 MT against 4.03 MT imported in February 2022. 

 India is among the top five coal-producing countries in the world. However, some parts of its coal requirement are met through imports as the country is also among the major consumers of the dry fuel.

 For coking coal, a key raw material used in steel making, the country remains heavily dependent on imports. 

 mjunction company's MD Vinaya Varma said, "The softening of seaborne prices coupled with high domestic demand resulted in continued buying interest among Indian traders and consumers".

 However, the increased domestic supply and the healthy stock position may restrict the volumes in the coming month, he added.

Top stories
Company

Delta Corp Q1 PAT Declines 68% YoY to Rs 22 crore in FY25

4 mins read . 13 Jul 2024 . 09:30 AM

Company

Zydus Life Gets USFDA Nod for Heart Failure Drug

3 mins read . 13 Jul 2024 . 09:23 AM

Company

RVNL Spurts 10% on Bagging Multiple Orders Worth Rs 390 Cr

4 mins read . 13 Jul 2024 . 09:18 AM

Related Blogs
blog-logo

Share Market

blog-logo

12 mins read . 12 Jul 2024

Ritesh Agarwal: The OYO Founder’s Success Story

  • 0 people read
blog-logo

Share Market

blog-logo

15 mins read . 08 Jul 2024

Best Oil & Gas Stocks in India

  • 0 people read
Kickstart your equities journey today You've got this
By submitting this I agree to the terms & conditions