India to pass China as top coal importer

Traders and consultants have said that India is expected to eclipse China as the world's top coal importer in 2015, sooner than previously predicted.

According to Mayank Garg, Managing Director of Consultancy Venerable Energy Solutions, coal imports from India are set to rise to around 200 million t this year, from around 180 million t in 2014.

The Director commented, "It's happened much faster than expected because Chinese imports have gone down and prices have gone down - price plays a very important role in India."

Garg said that if prices remained around current levels, Indian imports could rise to 250 million t within three to four years.

Global coal prices have been down in recent years due to supply excess. Meanwhile a fall in Chinese imports has been sharper than had been expected.

Edited from sources by Joseph Green. Sources: First Post, Economic Times

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