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Coal India's production shortage expected to boost imports

Coal India Ltd. missed its production target for the 11th straight month, Business Standard reported March 7, bringing its total from April 2017 through February 2018 to 495.1 million tonnes, which is 7% below the target of 531.3 million tonnes set by India's coal ministry.

The decrease in coal output is expected to boost imports, which will be further bolstered by strong power demand in summer.

Sales volume for the period is also set to fall 3% from the government target of 541.6 million tonnes.

The production shortfall has caused a nationwide fuel shortage at coal-fired power plants, with the average coal stock at a 10-day supply compared to the prescribed norm of 22 days, the report said.

"Given the coal situation at power plants and Coal India's production figures, imports might increase, especially for the coastal plants that can be fed directly by sea," the newspaper quoted a market analyst as saying.