MoIT seeks gov't nod for more coal exports
MoIT seeks gov't nod for more coal exports
The Ministry of Trade and Industry has asked the Government to allow coal exports to solve inventories, said an official with the ministry's Power Department.
Nguyen Khac Tho, Deputy Head of the Ministry's Power Department, told Hai Quan (Customs) newspaper, that coal depots are overloaded following the government's policy to limit exports in a bid to ensure national energy security and domestic demand; this has also resulted in a decrease in coal export turnover.
The ministry's Export-Import Department has pointed out that Viet Nam's coal exports in May, as well as during the first five months of this year, saw a sharp decrease in both volume and value.
The country exported 150,000 tonnes of coal last month, earning US$19 million in turnover. The figure dropped 40 per cent in volume and 22 per cent in value compared to the previous month and 72 per cent in volume and 50 per cent in value compared to the same period last year.
The country exported 895,000 tonnes of coal in the first five months of this year, earning $100 million, down by 77 per cent in volume and 65 per cent in turnover compared to the same period last year.
Meanwhile, coal production has increased compared to last year, reported the ministry.
The production of clean coal reached 3.67 million tonnes last year, marking a year-on-year increase of 0.8 per cent.
The country's total coal production during the first five months of this year was 17.58 million tonnes, up 4.5 per cent year-on-year.
