Coal India's May 1 stocks down 7 pct on month-statement

Thu May 9, 2013 9:35am EDT

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NEW DELHI, May 9 (Reuters) - State-run Coal India Ltd's
 stocks were at 53.72 million tonnes as of May 1, 7
percent lower from the previous month, a government statement
said, which helped increase supply to state utilities in the
energy-hungry nation.
    Coal fuels more than half of India's power generation and
shifting more stocks to its mainly power-producing customers
helps trim the supply gap in the country, where capacity
additions in the power sector have outpaced growth in domestic
coal output.
    The world's biggest coal miner plans to cut stocks by 15
million tonnes in 2013/14, Chairman S. Narsing Rao told Reuters
last month, to help increase its supplies. 
    Coal India, which accounts for more than 80 percent of the
country's coal, produced 35.75 million tonnes in April and
supplied 39.89 million tonnes of coal by running down its
stocks.
    Those were 5.7 percent and 5.6 percent higher respectively
from a year earlier, the statement said on Thursday.
    The higher supplies were possible due to an increase in the
availability of rail wagons for transporting coal. Around 90
percent of India's coal is transported by railroads.
    The miner loaded 201 wagons, or rakes, per day in April,
against 181.5 rakes a year earlier, which enabled a 10.2 percent
rise in supplies to power utilities.
    Following is a table on Coal India's production and supplies
in April:
    
                           April 2013         April 2012
                      Target     Actual      Actual   % change
Production            35.15      35.75       33.81     5.7
Supply (offtake)      40.03      39.89       37.76     5.6
Supply to utilities    --        29.55       26.82    10.2
Rake loading*          --        201        181.5     10.7
----------------------------------------------------------------
* per day
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SOURCE: Government data

 (Reporting by Malini Menon; Editing by Prateek Chatterjee)
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