Exports of coal in the first four months of this year increased sharply compared to the same period last year. In the opposite direction, coal import turnover also increased sharply, coal consumption increased.
Coal exports surged
According to the latest statistics released by the General Department of Vietnam Customs, although the volume of coal exported in April 2017 decreased sharply by 26% compared to March 2017 (reaching 143,523 tons) and turnover also decreased Nearly 38% (reaching over 18.7 million USD), but in the first 4 months of 2008, coal export volume increased dramatically to 428% over the same period (reaching 544,109 tons). 851% (close to 83.6 million USD).
The average export price increased over the same period last year. Specifically, the price in the same period in 2016 is $ 79 per ton, the first four months this year rose to nearly $ 154 per ton. Remarkably, many years ago, the main export market for Vietnam’s coal was China, this year, China is almost not involved in the coal export market of our country; Instead, it is Japan and Malaysia.
Coal export has the strongest growth rate among all export commodities of Vietnam in the first four months of 2017, as exports to all markets have increased sharply over the same period of 2016.
Leading the coal market of Vietnam is Japan, exports to Japan increased to 2,390% in volume and increased 2,488% in turnover over the same period last year, reaching 256,367 tons, equivalent to 35.4 million USD.
Malaysia ranked second in terms of coal consumption in Vietnam, also surged 1.261% in volume and increased 3.651% in turnover over the same period (reaching 95,317 tons, equivalent to 24.2 million USD).
The Lao market, although not involved in Vietnam’s coal export market in the first four months of 2016, rose to No. 3 in the first four months of this year, with 44,817 tonnes, $ 8 million.
In addition, all other export markets were up over the same period last year: export to Korea 25,999 tons worth USD 1.8 million (up 148% in volume and 101% in turnover ); India 16,800 tonnes, equivalent to $ 2.9 million; Thailand 15,535 tonnes, equivalent to USD1.5 million (+ 102% in volume and 90% in value); Taiwan 11,912 tonnes, equivalent to USD 1.8 million (up 24% in volume and 57% in value) and Indonesia 11,261 tons, equivalent to USD 1.5 million (up 79% in volume and 167% category).
Imports of coal also increased sharply
Although coal exports increased sharply in comparison with the same period last year, but in the opposite direction, coal import in the first four months decreased 2.4% in volume, but also increased over 72% in turnover over 4 , 6 million tons, worth over 498 million.
Vietnam imported the most coal from Indonesia – accounting for 33.5% of the country’s total coal imports and accounting for 21.8% of the total value – with nearly 1.6 million tonnes worth USD 108.5 million. (up 93% in volume and 201% in value over the same period).
The second largest import market was Australia with 1.4 million tonnes, worth $ 166.8 million, accounting for 30% of the total and accounting for 33% of total value, down 7% in volume but up sharply over 83%. % of value.
Notably, imports from Malaysia were not large, only 82,471 tons worth $ 4.3 million, but increased sharply to 246% in volume and up 309% in value over the same period.
According to experts, the import of coal for thermal power projects is a very important task to ensure national energy security. According to the plan, Vietnam will have to import large amounts of coal after 2017 and increase significantly from 2020, mainly for thermal power plants (including Anthracite coal and thermal coal). However, rising imports are causing difficulties for domestic coal, due to competition with imported coal at low prices.
In order to offset the cost of coal, the Coal and Mineral Industries Group (Vinacomin) has adjusted its coal price by 3% depending on the type). However, until now, the units have not signed contracts to buy coal in 2017 with TKV because the coal price was not applied on 24/04/2016 according to the Decision No. 3005 / QD-TKV.