Coal prices to increase 20-40% in April

Thursday, 2011-04-07 16:53:00
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Nhan Dan – Coal prices for domestic consumption and for the production of cement, paper and fertiliser will be increased by between 20-40% in April, according to the Vietnam National Coal, Mineral Industries Corporation (Vinacomin).

The reasons for the increase are the rise of 40% in input costs (oil and petrol prices), the 9.3% depreciation in the exchange rate, increases in loan interest and the rise of between 10-15% in the coal export tax.

Before March 31, coal prices for domestic consumption were only 60% of the coal export price and only 50% of the coal price for the production of cement, paper and fertilizer.

The price difference was due to the Government efforts to curb inflation.