Continuing a declining trend, iron ore exports dipped
by over 36% to reach 56 million tonnes (MT) in April-February period last
fiscal mainly due to ban on shipments of the key steel-making raw
material from Karnataka.
Iron ore exports from the country were over 87 MT in the year-ago period,
according to the data released by miners body, Federation of Indian
Mineral Industries (FIMI), today.
“The decline in exports is mainly on account of ban on shipments from
Karnataka and then hike in exports duty as well as increase in railway
freight,” said FIMI Secretary General R K Sharma.
The most glaring fall was recorded in February 2012, when it
came down by over 60 per cent to 4.2 MT from 10.5 MT.
Iron ore shipments from Karnataka, a major exporter of the raw material from
the country, have been stopped since July, 2010, following allegations of
widespread corruption.
“Unless the export duty and railway freight are brought down, the iron ore
exports will continue to slide and the shipment during the fiscal may not cross
60 MT,” Sharma added.
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