Commodity Online
NEW DELHI: Cargo traffic at India’s major ports are growing at a rate of 17.7% thanks to the major contribution from Petroleum, Oil and Lubricants (POL).
According to a joint study by Associated Chambers of Commerce and Industry (ASSOCHAM) and Ecopulse (AEP), handling of POL has increased from 144.33 MT in FY 2006-07 to 168.89 MT in the last fiscal contributing to a rise of 9.43%. In 2006-07, the growth in POL handling was 8.62 %.
Other liquid cargo handled at major ports saw a whopping rise from 25.39 per cent in FY 2006-07 to 66.9 per cent in the last fiscal. In value terms, the traffic has increased from 7.58 MT in FY 2006-07 to 12.65 MT in FY 2007-08.
The study report titled “Trend of cargo traffic handled at Indian ports” said that iron ore was the next major commodity that was handled by ports contributing a rise from a mere 1.79 per cent in FY 2006-07 to a whopping 14.13 per cent in the previous financial year. The total iron ore traffic handled rose to 91.97 MT in FY 2007-08 from 80.58 MT in FY 2006-07.
“The growth in the cargo traffic handled reflects the fact that Indian ports have been exceeding their cargo handled targets set annually by the Government. Since the cargo traffic is increasing significantly there is an urgent need to provide adequate infrastructural facilities for cargo handling in order to meet the criteria of the international ports standards”, Mr. Sajjan Jindal, ASSOCHAM President said.
Vegetable oils with a negative growth of -7.93 per cent in FY 2006-07, says ASSOCHAM President, saw an increase in the cargo handled, which grew to 8.7 per cent in the last fiscal. The cargo traffic of vegetable oils grew from 3.55 MT in FY 2006-07 to 3.86 MT in 2007-08.
The cargo traffic for sugar, which stood at 0.79 MT, grew to 1.32 MT registering an increase from a negative growth of 11.17 per cent in FY 2006-07 to 66.54 per cent in the last financial year.
The cargo handling of cement also showed an upsurge in the total commodity traffic. It grew from a negative growth of –8.94 per cent in FY 2006-07 to 4.91 per cent in FY 2007-08.
On the contrary, certain commodities saw a major dip in the total cargo traffic handled at the major ports. Despite witnessing a robust growth in production, coal saw a major decline from 71.12 MT in FY 2006-07 to 64.72 MT in the last fiscal registering a decline from 4.69 per cent to a negative growth of 9 per cent in the last financial year.
While fertilizers finished raw material saw an upsurge in the last fiscal, fertilizers raw material continued its trend of negative growth from –7.84 per cent in FY 2006-07 to –36.23 per cent in FY 2007-08.
Iron and Steel after registering a positive growth of 3.74 per cent in FY 2006-07 saw a negative growth to –10.7 per cent in the last fiscal. The cargo traffic for iron and steel grew from 8.85 MT in FY 2006-07 to 79.07 MT in the last fiscal.
