PANJIM, APR 23: The slowdown in South Asian economies hit iron and manganese ores exports from Goa and neighbouring areas which fell sharply in the fiscal 1999 from 18.92 million tonnes in 1997-98 to 15.29 million tonnes recorded last year. The Marmugao port accounts for 46 per cent of all iron exports from the country.Speaking to news reporters, chairman of the Mormugao Port Trust, Jose Paul said that MPT is transforming from a single commodity port to multi-commodity port to maintain profitability. He felt that imports of iron ore by the Asian countries would be stagnant this year as well.
Despite 18 per cent decline in its demand, the Japanese market continued to remain the biggest buyer of Goa ore. The country accounted for 52 per cent of all ore exported from Goa with 7.83 million tonnes as compared to 1997-98 figures of 9.58 million tones. China emerged the second largest importer accounting for 2.78 million tonnes or 19% of the offtake.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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