Wednesday, March 09,
Iron ore exports from Goa fell by 4.2 % in February from a year earlier to 4.5 million tonnes, as higher taxes and an export ban from Karnataka looked set to weigh further on shipments..*
Mormugao port official said exports from April 2010 till date was at 36.7 million tonnes, a bit higher from the year-ago shipments of 36.2 million tonnes, which included iron ore from neighboring Karnataka state before it imposed an exports ban.
India hiked the export duty on iron ore to 20 percent on lumps and fines from the earlier 15 percent and 5 percent respectively in last month’s federal budget.
Indian railways have also hiked its freights on iron ore meant for exports twice within a month by 100 rupees ($2.2) to 1,600 rupees per tonne.
These moves are expected to dent shipments of the low grade iron ore to China, that houses the world’s largest steel industry.
India’s overall iron ore exports had showed a decline for a seventh month in a row in January, the Federation of Indian Mineral Industries (FIMI) said on March 1.
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