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Vietnam sees doubling coal imports so far this year:customs

Xinhua, September 26, 2016 Adjust font size:

Vietnam imported more than 9.7 million tons of coal valued at 600 million U.S. dollars over the first eight months of 2016, almost doubling the quantity over the same period last year, according to the General Department of Vietnam Customs on Monday.

The latest statistics from Vietnam Customs showed that the coal imports experienced a year-on-year increase of 191 percent in volume and 107 percent in value. The figures also tripled the target set earlier this year by the Ministry of Industry and Trade.

Russia remained the biggest seller of coal to Vietnam with 2.8 million tons. Indonesia ranked second with 1.8 million tons while China sat third place with 1.4 million tons.

The period's high import volume was attributable to rising domestic demand, said industry insiders, adding that increases in coal imports are unavoidable as local coal output might not increase significantly.

According to a new master development plan for the coal sector by 2020 with a vision towards 2030, coal output will reach 47-50 million tons by 2020 and 55-57 million tons by 2030.

However, domestic demand for coal would stay doubled the local production output, at around 112.3 million tons by 2020 and 220.3 million tons by 2030. Endit