Extended monsoon has effected CIL coal production and offtake to decline in October
Indian state owned coal producer Coal India Ltd (CIL) missed its October, 2013 production target by 5.8 MnT and achieved only 86% of its target as reported by CIL. CIL produced 35MnT of coal during October and 235.5 MnT in FY14 (April-October) which registered the growth of 3.6% Y-o-Y but lagging by 5% on achieving its annual target.
It is noted that extended monsoon effected CIL production and its offtake a lot. Heavy rains and Phailin storm in October has led to short production and contributed around 5.8MnT of short production and 6 MnT short offtake of coal.
In October, 2013 offtake performance of CIL’s subsidiary companies also missed its target by short offtake of 6 MnT of coal and achieved only 85% of its target.
CIL has achieved 97% coal offtake target to 259.8 MnT in FY14 (April-October)
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