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    Indonesian coal exports, output may fall in 2024, official

    sxcoal.com Import & Export,  Production & Sales,  International 2024-02-20 15:58:38

    Indonesia's coal exports are expected to decline in 2024 on concerns over softened global demand and supply surplus, said Hendra Sinadia, executive director of the Indonesian Coal Mining Association.  

     

    In 2023, Indonesian coal exports dropped over 15% from 2022 to $59 billion, while total volumes increased 12% to 550 million tonnes, showed data from Statistics Indonesia.

     

    Hendra expected 2024's exports may experience a downward trend by value, as the global supply surplus would continue to trim prices.

     

    Global demand for thermal coal increased 1-2% last year, Hendra explained, but this was far outpaced by the growth of supply, resulting in the supply glut. Similar situation is likely to carry on this year.

     

    The country targets to produce 710 million tonnes of coal in 2024, which is 8% lower than the record production of 775 million tonnes in 2023, showed data from the Energy and Mineral Resources Ministry.

     

    (Writing by yan.sun  Editing by Alex Guo)
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