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The Hindu
The Hindu
National
Special Correspondent

Country’s pellet exports suffered due to 45% hike in duty: KIOCL

Ministry of Steel

India’s pellet export market has turned silent after the Union government imposed a 45% export duty on the export of pellets in May 2022, said KIOCL Ltd., a State-owned PSU operating under the Ministry of Steel here on Saturday.

“The county’s pellet export market has turned silent after the announcement of a steep hike in the export duty of 45%. This came as a blow to the company resulting in intermittent operations of Pellet Plant and adverse impact on its performance,’‘ said T. Saminathan, CMD of KIOCL, here on Saturday.

Addressing shareholders at the company’s AGM, he said the PSU had taken up the matter with the Ministry of Steel seeking exemption of export duty for the KIOCL, it being an export-oriented unit.

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