India’s coal imports experienced a significant uptick of 13.2% in April 2024, reaching 26.10 million tonnes (MT) compared to 23.05 MT in the same period last year. This rise is attributed to the early onset of summer, prompting buyers to secure additional supplies.
The data, compiled by mjunction services ltd, a B2B e-commerce company, underscores the country’s continued reliance on coal to meet its energy demands. The surge in imports comes despite recent statements from Coal and Mines Minister G. Kishan Reddy advocating for increased domestic coal production to reduce dependency on imports. The minister’s call for self-reliance highlights the strategic importance of bolstering indigenous coal output amidst fluctuating global prices and growing energy needs.
In April 2024, India’s coal and coke imports, encompassing both major and non-major ports, saw a notable increase of 13.2% compared to April 2023. Specifically, non-coking coal imports rose to 17.40 MT from 15.15 MT in April 2023, while coking coal imports edged up to 4.97 MT from 4.77 MT during the same period. On a month-to-month basis, coal imports in April 2024 were 8.93% higher than the 23.96 MT recorded in March 2024. This consistent growth pattern indicates a robust demand for coal, likely driven by the anticipated increase in power consumption as temperatures rise.
For the fiscal year 2023-24, India’s coal imports climbed 7.7% to 268.24 MT, propelled by favourable seaborne prices and heightened power demand during the summer months. This trend underscores the nation’s ongoing challenge of balancing its energy portfolio while striving to enhance domestic coal production capabilities. As India continues to navigate its energy landscape, the interplay between import reliance and domestic production will remain a critical focal point for policymakers and industry stakeholders alike.
