New Delhi: The latest development in the coal export and import ban in India is that new coal imports have declined by almost a third in the first three months of 2018, according to the latest data.
The data from the World Coal Association (WCA) shows that the total amount of coal imported in the last three months is $1.8 billion, which is down by almost 20 per cent from the $2.3 billion imported in January-March.
This means the total coal imports in the past three months have declined to $1,938 million, which means about a third of the coal imported was in January 2018.
The coal imports from China fell by almost 13 per cent, and the imports from other major coal exporters including the US, the UK, Brazil, Indonesia, Canada and France also fell, the data showed.
Meanwhile, the coal imports that are expected to continue into the future are expected down by nearly a third, according the data.
For the current year, coal imports are expected at $2,094 million, down by 27 per cent.
The decline in imports is being attributed to a number of factors, including the export ban on coal in the country, which had already been in effect for more than three years and a reduction in the price of imported coal.
The ban has also reduced the export of coal to other countries, which has led to a reduction of export of some of the world’s top coal exporter India.
In February 2018, Prime Minister Narendra Modi had announced the export and imports ban on the export, import and importation of coal.
In February 2019, the ban was extended till March 2019.
The government has also banned coal mining, mining of shale and other unconventional coal sources, as well as other forms of coal mining.
The new ban has come into force on March 1 and is set to come into effect on July 1.
Coal imports fell to $2 billion from $3.1 billion in January and March 2018.
In terms of the price that coal was sold for, coal has lost some value over the past few years, due to lower prices and the impact of the global financial crisis.
As per a report by the Coal Board of India (CBI), the value of coal is now $7.9 billion, down from $9.5 billion in February 2018.
In its latest report, the CBI said that the price for coal has fallen by 40 per cent over the last one year from its peak price of $14.65 per tonne in October 2014 to $12.38 per tonnne in February 2019.
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