POLL-Slim majority see Indonesia coal tax no deterrent to India buyers

NEW DELHI, March 14 Wed Mar 14, 2012 2:12pm IST

Stocks

   

NEW DELHI, March 14 (Reuters) - India could be the top buyer of Indonesian thermal coal next year even if the southeast Asian country introduces an export tax on its product, a slim majority of respondents in a spot poll of attendees at the Coaltrans conference in New Delhi said.

Prices could rise "moderately" as a result of any export tax on coal by Indonesia, according to 75 percent of the delegates who took part in the electronic vote on Wednesday.

About 58 percent of respondents said in 2013 India would be Indonesia's biggest buyer of thermal coal even if the export tax was imposed. No details on number of voters was available.

The delegates who voted in the poll represented end-users, producers, traders, brokers, surveyors and shipping agents.

Indonesia, a major global producer of raw materials, said last year it would look to introduce export taxes for coal and base metals from 2012, as it tries to encourage more investment in its mining sector.

Coal demand in India, Asia's third-largest economy, is set to jump to 980 million tonnes by 2017, but output in this period may only be 795 million tonnes, coal ministry figures say.

Output from state-run Coal India, which accounts for about 80 percent of the country's production, should be 464 million tonnes in 2012/13 and about 440 million tonnes in 2011/12 -- suggesting there will continue to be a substantial gap to be filled by imports.

Indonesia is currently the leading supplier to India followed by Australia.

Australia could take over the leading slot early next decade, as Indonesia focuses on filling domestic demand, research consultants Wood Mackenzie said.

(Editing by Jo Winterbottom)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

RAINFALL THIS YEAR

REUTERS SHOWCASE

Election 2014

Election 2014

Thousands mob Modi as election race starts in Varanasi.  Full Article 

Monsoon Forecast

Monsoon Forecast

Met office rules out surplus monsoon in 2014.  Full Article 

Facebook's Performance

Facebook's Performance

Facebook Q1 revenue grows 72 percent on rising mobile ads.  Full Article 

Earnings Season

Earnings Season

Bharti Infratel Q4 net profit jumps 64 percent.  Full Article 

Solar Dispute

Solar Dispute

Green groups urge U.S. to drop solar trade case against India.  Full Article 

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

Rice Exports

Rice Exports

India may cede top rice exporter spot under Southeast Asian price onslaught.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage