Oilmeal exports halve to 83,221 t in May
Oilmeal exports more than halved to 83,221 tonnes in May 2015, as compared to 1,69,607 tonnes in the corresponding month of last year due to lower demand from Iran, and reduced availability from seed crushing mills on negative parity, the Solvent Extractors’ Association of India (SEA) said.
“We have lost entire oilmeal markets due to three major factors: Iran, which emerged as the largest oilmeal importer from India in 2012, is now buying from other regions. Secondly, India’s other major buyers like Vietnam and Bangladesh have set up their own oilseed crushing units to generate meal indigenously. Thirdly, India remained uncompetitive on the global map due to high cost of production on elevated seed prices,” a senior official of SEA said.
Overall exports of oilmeals in the first two months of this financial year declined by 36 per cent to 2,65,859 tonnes from 4,18,052 tonnes, SEA data revealed.
According to the official, higher operational costs and lower realisation was affecting the industry at large and the availability of edible oil for the consumer.
Imported coal stocks pile up at a record high of 16 MT as power firms stop spot buy
Stocks of imported coal at India’s ports have swelled to a record 16 million tonnes, primarily because power generating firms have stopped spot purchases even as international prices have plunged to as low as about a fifth of the peak levels. The stocks at 16 major Indian ports comprise mostly of thermal coal used by power plants, coal traders said. Power producers are not drawing from these stocks to blend with domestic coal since this makes electricity more costly and therefore unacceptable to cash-strapped electricity distribution companies.
The Kandla port and Paradip ports have the highest coal stocks whose quality is deteriorating every day, a Kolkata-based coal trader said. Besides non-purchase by power firms, economic slump, lower industrial activity, lack of railway wagons, rupee depreciation and improved domestic coal supply have also contributed to the surge in imported coal stocks, an executive from another coal trading firm told ET, requesting anonymity. “”The railways does not have rakes to transport the coal to plants, because of which non-core sectors are suffering,” he said.
Low prices of steel and high domestic coal stocks at plants are deterring companies from making coal purchases, according to this executive. Weakening Indian currency, at about Rs 64 per US dollar compared to Rs 59 a year ago, has also led to this situation. Dipesh Dipu, partner at Hyderabad-based Jenissi Management Consultants, said price of coal in international markets has fallen to $35-40 per tonne against a peak of $150-200 per tonne.
“Coal stocks have soared not just in India but also in international ports. There is huge oversupply in the overseas markets, resulting in lot of coal finding its way to the Indian market. However, the demand in India has not grown commensurately. Industrial growth is not as high as we would expect it to be and also supply in domestic market has picked up well,” said Dipu. He said China, which used to be the largest importer of coal, has now started exporting as it has moved to other source ..
BHEL starts NTPC’s 800-MW Koldam hydro power plant
State-owned BHEL today said it has commissioned NTPC’s 800-MW Koldam hydro power project in Mandi district of Himachal Pradesh.
“Bharat Heavy Electricals Ltd (BHEL) has successfully commissioned all the four units of NTPC’s 4×200 MW Koldam Hydro Electric Project (HEP) in Himachal Pradesh,” BHEL said in a statement.
The Koldam project is capable of generating approximately 3,054 GWH annually.
According to the statement, all the four units have been commissioned within a short span of just 75 days, starting with the commissioning of the first unit on March 30, 2015.
With this project, NTPC has made its entry into the hydro power space. Located on the embankment on the Sutlej, the surface power house is the first hydro project of NTPC, it added.
Other than Koldam, the other three hydro projects of NTPC being executed by BHEL are Tapovan Vishnugad HEP (4×130 MW), Lata Tapovan HEP (3×57 MW) and Rammam Stage-III HEP (3×40 MW).
This post was written by Atlantic Admin