Coal shipments to India, the world's fourth biggest importer
of the fuel, rose 9.6 % to 9.65 million tons in February from a year earlier, provisional data from government sources showed, as thermal coal imports nearly
doubled.
Domestic production of coal, which fuels more than half of India's power generation, has lagged capacity growth in the power sector, where energy production falls
far short of the demands of a fast growing economy and an
increasingly affluent population.
However, higher coal imports are adding to pressure on the country's current
account deficit, which widened to a record high in the in the December quarter.
Thermal coal imports in February were 7.0 million tons,while coking coal
imports were 2.16 million tons, according to the data by an International News
agency, as supply lagged demand in the country (India).
February coal shipments to the world's third largest coal producer after China
and the United States were worth 51.75 billion rupees ($952 million).
Indonesia maintained its top slot as the No.1 coal exporter into India, accounting for more than half of the shipments in February, followed by
Australia.
India imported 122.62 million tons of coal between April and February, up by 27.3% from a year earlier, the figures showed. The cumulative imports were worth
about 777 billion rupees ($14.30 billion).
Thermal or steam coal, the fuel mainly used by power producers, accounted for
72.5% of India's coal shipments in February.
The coal ministry expects India to produce 574.4 million tons of coal in the
2012-13 fiscal year that ended 6.4% up from a year earlier but that is expected
to be 192 million tons in Asia's third largest economy.
On a calorific-value adjusted basis, given the higher grade of imported coal, the shortfall translates nearly 130 million tons.
Total thermal coal imports in 2012-13 are expected at around 110 million tons, said
sources.
In 2011-12, India imported about 103 million tons of thermal and coking coal, nearly 50% increase from a year earlier.
Sourced
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