India's coal imports surge by 8% to 268 MT in FY24

13 May 2024 CW Team

In FY24, there was a 7.7 percent increase in India's coal import, reaching 268.24 million tonnes, propelled by the softness in seaborne prices and the anticipated rise in power demand during summer, as stated by data compiled by B2B e-commerce company mjunction services. The coal import figure for FY23 stood at 249.06 MT.

In March FY24, coal import also saw an uptick, reaching 23.96 MT, compared to 21.12 MT in the same month of the preceding fiscal year.

Breaking down the March 2024 figures, non-coking coal import was reported at 15.33 MT, surpassing the 13.88 MT recorded in March FY23. Meanwhile, coking coal import in March 2024 amounted to 5.34 MT, a rise from the 3.96 MT in the previous year.

For the entire FY24 period, non-coking coal import totalled 175.96 MT, up from 162.46 MT in FY23. Coking coal import reached 57.22 MT in 2023-24, compared to 54.46 MT in 2022-23.

Vinaya Varma, the MD & CEO of mjunction, noted that the surge in coal import volumes was attributed to the sustained softness in seaborne prices and the expectation of increased demand during the summer season. However, with ample availability of domestic coal in the market, the continuity of strong import demand in the upcoming months remains uncertain.

Furthermore, the all-India coal production for 2023-24 was reported at 997.25 MT, reflecting an 11.65 percent growth compared to FY23.

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