India's coal imports up 20% in February, says data

MUMBAI (Scrap Monster):  The coal imports by India during the month of February this year totaled 11.6 million tonnes, 20% higher when compared with the imports during the same month a year ago. The sharp fall in coal prices and the strengthened local currency contributed to the higher import figure in February.

Indonesia continued to be the biggest supplier, accounting for more than 50% of total imports. The average import price from Indonesia was down by nearly 3% in February when compared with January. The coal imports by power sector surged almost 31% during the period from April to January.

According to data, coal imports by the country during the initial eleven-month period of the fiscal year ie., April 2013 to Feb 2014 rose 15% to 143.5 million tonnes upon comparison with the imports during the corresponding eleven-month period during previous fiscal.

India depends on foreign imports, though it sits on world’s fifth largest reserve. The country is the third largest importer of coal.