BackCargo traffic at major ports to grow at 5.2%: CMIE
Cargo traffic at major ports to grow at 5.2%: CMIE
PremiumMumbai: Economic think-tank, Centre for Monitoring Indian Economy (CMIE), has pegged the cargo traffic growth at major ports in the country at 5.2% for 2009-10.
The growth will come on the back of an expected increase in domestic demand and trade in the second half of the current fiscal, CMIE said in its latest report on the state of the Indian economy.
The CMIE report also said that cargo traffic across the country’s major ports clocked a robust 8.1% growth at 45.4 million tonnes during June on account of improvement in international trade and other factors.
The traffic staged a recovery after witnessing a decline between October 2008-May 2009 (barring December) as 13 major ports registered an increase, the report said.
Improvement in the international trade situation and higher operational days with respect to cargo movement due to weak monsoon are said to be the main reason driving the growth, the report said, adding the count was highest since May 2008.
Kandla Port, which witnessed 25.1% more traffic at 7.4 million tonnes was the busiest port, replacing Visakhapatnam, CMIE said.
Port-wise, the CMIE said Goa’s Mormugao Port continued to register the fastest growth in cargo traffic for the second consecutive month in June 2009 due to strong growth in iron ore cargo.
“Cargo traffic at the port grew by 46.1% to two million tonnes during the month. Iron ore cargo dispatches from Mormugao Port grew by 21.1% during the June 2009 quarter, helped by rising demand from China," the report said.
Paradip and Kolkata ports followed with 36.1% and 29.3% growth respectively, the report said.
According to CMIE, ‘other liquids’ grew the fastest among larger commodities (volume more than one-million tonnes) for the second consecutive month in June 2009.
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