Indian Coal Production & Imports Shrink as COVID19 Hits Demand
Indian state owned coal miner Coal India is likely to post marginal contraction of its output for the year 2020-21 by 5-6 million tonne in 2020-21 as its production will below the 600 million mark. Till March 27, the production was 585 million tonne and 11 million tonne is expected to be added in the remaining days of the month. So, total production could be between 596- 597 million tonne. It will be the second year in a row when the miner will register de growth. In 2019-20, the miner produced 602 million tonne down from 606.9 million in 2018-19 when it registered its highest production.
CIL had projected a 660 million tonne production target and by mid-year the company had been expecting to attain 630-640 million tonne of output. Officials attributed Covid-19 disruptions as the key factor behind lower demand resulting in a stockpile building up, compelling the mining giant to moderate output.
According to mjunction, India’s coal import in February 2021 stood at 15.29 million tonne as against 22.68 million tonne in the year-ago period. India’s coal import dropped 13.6% to 196.13 million tonne in the April-February period of the on going fiscal year. India had imported 227.23 million tonne of coal in the year-ago period