India has scaled down iron ore exports to Japan and South Korea to a maximum of 6.78 million tonnes per year in the fresh agreements signed for 2006-11.The quantity for this fiscal has been fixed at 3.5 million tonnes, which is about 50 per cent lower than that in the previous year.
Christy Fernandez, additional secretary in the ministry of commerce, said, "The new long-term agreements with Japan and South Korea have been signed. Iron ore exports to these two countries during 2006-11 would be in the range of 2.70 million tonnes to 6.78 million tonnes".
The Telegraph (Calcutta India) reports the previous agreement ended on March 31. The permissible quantity of exports during 2001-06 was in the band of 9.6 million tonnes to 16.5 million tonnes per year.
