Russian coal exports to India have tripled in the last three years, writes the Economic Times newspaper on May 5.
Russia’s share of India’s metallurgical coal imports, at 73.2 million tonnes, has risen to about 21% from about 8% in 2021-22, according to Indian research firm Big Mint. The share of Russian coal in 2023-24 was 15.1 million tons.
At the same time, Australia, one of India’s main coal suppliers, is facing a reduction in coal exports to India. In fiscal year 2022, the volume of coal supplied from Australia to India was 50.7 million tonnes. Which accounted for 77% of India’s total imports. In the last financial year (2023), Australian coal imports fell further to 40.4 million tonnes, representing a 55% market share.
According to analysts, imports from Russia are cheaper for Indian steel companies than those from other countries. This was the main reason for the growth of Russian coal in the Indian market.
Source: Rossa Primavera
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