India iron ore exports in Aug fall 43.4 pc: Federation of Indian Mineral Industries

Iron ore exports in August from India, the world's third biggest exporter, fell 43.4 per cent on year to 2.65 million tonnes, data from a trade body showed, as monsoon dented shipments and there were no exports from a key state even after lifting of a ban. 

Exports in the first five months of the fiscal year to August fell 24.38 per cent to 28.02 million tonnes, the Federation of Indian Mineral Industries ( FIMI) said in a statement. 

The southern state of Karnataka, which accounted for a quarter of shipments before a ban was imposed, registered zero exports on delayed efforts by the government to re-start shipments despite a Supreme Court order in April. 

Exports from Vishakapatnam port in Andhra Pradesh state rose 934,000 tonnes in August from 855,000 tonnes a year ago, while those from West Bengal's Haldia rose to 422,000 tonnes from 404,000 tonnes. Other ports witnessed a fall. 

Exports from Orissa's Paradip port fell 0.54 million tonnes from 1.268 million tonnes, while those from Goa fell 389,000 tonnes from 681,000 tonnes. 

High export tax and rising freight rates also weighed on shipments. India, in February, had raised the export tax on iron ore fines to 20 per cent from 5 per cent to conserve the natural resource for local consumption. 

The Supreme Court has banned mining activities in Tumkur, Bellary and Chitradurga districts of Karnataka. The top court has allowed state-run NMDC to mine up to 1 million tonne per month from its mines in Bellary district. 

A federal government-appointed panel probing allegations of illegal mining in the western state of Goa, India's biggest iron ore exporting state last year, will submit its report within 45 days. 

Iron ore exports from India are likely to fall more than a quarter to their lowest level in eight years in the fiscal 2012, a Reuters poll showed.

Share this:
Tags:

About Jessica Priston

Ut tellus dolor, dapibus eget, elementum vel, cursus eleifend, elit. Aenean auctor wisi et urna. Aliquam erat volutpat. Duis ac turpis. Integer rutrum ante eu lacus. Vestibulum libero nisl, porta vel, scelerisque eget, malesuada at, neque. Vivamus eget nibh. Etiam cursus leo vel metus. Nulla facilisi. Aenean nec eros.

  • Website
  • Google+
  • Rss
  • Pinterest
  • Instagram
  • LinkedIn
  • Vimeo
  • Youtube
  • Flickr
  • Email

Related News

  • Cashback site Cashkaro now offers restaurant discounts

    India’s e-commerce market looks large and lucrative enough from the outside, but insiders know it is very challenging. In fact, the number of e-commerce sites and businesses is growing so fast here today that the competition is cut-throat. This

  • What is Viscose Material? Advantage and disadvantage of viscose.

    Viscose is a unique form of wood cellulose acetate used in the nnmanufacture of a number of different products. This includes items for nnthe medical industry, though it is perhaps most common as a major nningredient in the production of the fabric r

  • Honda launches new CBR 250R bike
    Honda launches new CBR 250R bike
    July 01, 2014 5:50 am

    New Delhi: Honda Motorcycle & Scooter India (HMSI) launched a new edition of its global sports performance bike CBR 250R priced between Rs 1.56 lakh and Rs 1.86 lakh (ex-showroom Delhi). The 2013 edition CBR 250R is available for sale across a

  • Zara has opened store at Ambience mall, Gurgaon

    Zara, has opened its new store at Ambience mall, Gurgaon. Spread over 28,000 sq.ft. across two floors the store has taken the space earlier occupied by Debenhams. With this Zara now has twelve stores in India. It is present in 86 countries with