4-Jun-2013
Business Standard reported that though the mining crisis in India led to an unprecedented decline in iron ore exports in 2012 to 13, following a regulatory crackdown.
Figures compiled by the Directorate General of Commercial Intelligence & Statistics, under the commerce ministry, showed India's iron ore exports jumped a whopping 157% to 121 million tonne in 2012 to 13, compared with 47 million tonne a year ago.
The same data showed the export value for iron ore declined to about USD 1.6 billion from about USD 4.6 billion through the same period.
These figures vary significantly from data released by other entities. According to the Federation of Indian Mineral Industries, outbound shipments of iron ore declined from 61.74 million tonne in 2011 to 12 to 18.37 million tonne in 2012 to 13.
Latest provisional data from the mines ministry showed iron ore exports during the April to December 2012 period stood at 14.2 million tonne.
DGCIS Director General Mr D Sinha said Business Standard that "We have released the principal commodity wise figures for March 2013, as well as April-March 2012 to 13. The item level data for March 2013 is currently under validation.”
He added according to provisional figures, in 2012 to 13, iron ore exports stood at only 17 million tonne, compared with 47 million tonne in 2011 to 12. A revision would be made when item wise figures are released by end of this month.
To a query on whether the revision would lead to a change in the value of export figures for the item, he said that "There will be no change in the value figures for exports." To increase domestic availability of iron ore, the government had, last year, increased the duty on iron ore exports to 30%.
Also, due to various illegal activities in the mining sector, exports from 2 of the largest iron ore producing and exporting states, Goa and Karnataka, were banned.
Source:-www.steelguru.com
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