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Decline in CIL Coal Production Continues in June

Coal News - Published on Fri, 03 Jul 2020

Image Source: CIL Coal Production Coronavirus COVID19
Coal India Limited's output fell for a third straight month in June as it looks for ways to trim stocks and lift sales amid weak demand. The production of Coal India declined by 12.8% to 39.20 million tonnes in June compared to 44.95 million tonnes of coal in June last year. The production in the first three months of 2020-21 dropped to 121.01 million tonnes from 136.94 million tonnes of coal produced in the April-June period of the previous fiscal. Coal India's off take also dropped to 41.61 million tonnes in June from 48.98 million tonnes in the corresponding month of the previous fiscal. The coal off take by CIL declined to 120.62 million tonnes in April-June from 153.49 million tonnes of off take in the year-ago period.

Supplies outpaced production as the company is focusing on cutting its inventories, which currently stand at around 75 million tonnes. Utilities across the country also have total inventories of close to 47.16 million tonnes, which are enough to meet consumption for 27 days.

India's thermal coal imports have fallen sharply since the virus outbreak, with the country's receipts of overseas thermal coal slumping to 8.43 million tonnes in May from 15.16 million tonnes a year earlier

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Posted By : Yogender Pancholi on Fri, 03 Jul 2020
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