India's import of thermal coal is set to rise to 100 million tonnes from around 90 million last year in spite of slow recovery of spot buying and slowing economy post – monsoon said the domestic suppliers and end users.
A producer in India said- “India is likely to Import 20 million tons from South Africa, on the other hand monthly imports does not seem encouraging but imports of overall 100 million tons looks achievable”.
The shortfall in the India's domestic coal demand and supply will be around 192 million tons in the financial year to march 2013, according to ministry of coal.
Coal which fuels around 66 percent of India's thermal power requirement aims to add 88,000 Mega Watt in the next five years.
Indian end users and suppliers from various countries are confident that the target of 100 million tons is achievable whereas the traders in India which accounts 70 percent of the country's coal imports are bearish and predicted that a total of not more than 85 million tons could be achieved due to slowdown in the economy.
The mass volume of India's imported coal is low-grade material coming from Indonesia which is used for power generation but standard-grade South African is preferred for its consistent quality and reliability of delivery by the makers of cement and sponge iron.
“Indian coal imports for 2012-13 are more likely to be between 80-84 million tonnes,” a senior official of research firm said.
Source: PTI
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