India ships 97.6 MT iron ore in FY10-11: FIMI

Exports of iron ore dipped from almost all major ports in southern region due to subdued supply from Karnataka, which accounts for about one-fourth of total iron ore export from the country

New Delhi: Iron ore exports fell by nearly 20% to 97.6 million tonnes (MT) in the fiscal 2010-11 mainly due to the ban on shipments of the key steel making raw material from Karnataka, reports PTI quoting Federation of Indian Mineral Industries (FIMI).

The county had exported over 117 MT iron ore in 2009-10, miners' body FIMI said.

Exports of iron ore dipped from almost all major ports in southern region due to subdued supply from Karnataka, which accounts for about one-fourth of total iron ore export from the country.

However, exports improved from ports in Goa, Paradip and Gangavaram. The Goa port registered the highest exports among its peers at 54.4 million tonnes.

Karnataka has banned transportation of the mineral for exports purposes from the state since July last year.

Meanwhile, FIMI estimated that as a fallout of the duty hike on iron ore exports in the Budget, India's outbound iron ore shipment would come down by up to 35% further in current fiscal.

The government has hiked duty on iron ore, both lumps and fines, to 20% in order to discourage exports and encourage value addition within the country.

User

ULIP: Expensive option

Future Generali Bima Advantage costs a packet for enhanced cover

Future Generali Bima...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Fine print

Motor insurance for diesel engine cars may be hiked

Insurance companies in India are said to...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)