The price of coal in the global market touched a record high of $400 per tonne last week, due to the Russia-Ukraine war
Unreliable domestic dispatches prompt customers to either pay more for imports or stop operations
India's coal import registered a decline of 2.7 per cent in August this year amid the power plants grappling with fuel shortages
For the first time in decades, supply was lower than consumption for four straight years till 2020
China has already called for an increase in imports and ramping up domestic production of coal, a key fuel used for the majority of its power generation.
Cities such as Shenyang and Dalian - home to more than 13 million people - have been affected, with disruption at factories owned by suppliers to global companies like Apple and Tesla
CHENNAI (Reuters) -India has urged utilities to import coal despite having the world's fourth-largest reserves, with several power plants on the verge of running out of fuel due to a surge in power demand.
Of total imports in September, non-coking coal's shipment was 11.97 MT as against 11.81 MT in the year-ago period
Coal volumes at the 12 major ports declined for the sixth straight month in September 2020, as per the Indian Ports Association (IPA)
During April-July 2020, total coal imports were recorded at 57.27 MT, which is 35.76 per cent lower than 89.15 MT imported during April-July 2019
Impacted by the Covid-19 pandemic, coking coal imports too witnessed a decline of 28.49 per cent to 10.69 MT in the quarter
Cargo handling at major ports grew 2.8% in FY19, but it grew just 1.4% in FY20 till February end
India had imported 213.63 MT of coal in the year-ago period, according to the report by mjunction services
Imports of coking and other coal recorded a rise of 1.10 per cent at 47.08 MT during the period
The government is creating a coal price index as part of its plans to open the coal sector to outside investment and end state-run Coal India's control over prices.
Coal is among the top 5 commodities imported by India, one of the world's largest consumers of coal, and the rise in imports of the fuel after 2 consecutive years of decline adds to its trade deficit
Coal imports in November this year also increased 10.1 per cent to 19.47 MT, over 17.68 MT in the corresponding month of the last fiscal
The increase in coal and coke imports in July is mainly due to a 12.9 per cent growth (month-on-month) in non-coking coal shipments
The domestic supply of coking coal is expected to be tepid despite a CAGR projection of 9.5 per cent in the comparable period
Higher coal prices and a weaker rupee forced them to cut generation