Iron ore exports from the Indian state of Odisha (formerly Orissa) have dropped by 56.6%, having plummeted from 10.01Mt in FY2011-12 to 4.34Mt for the FY2012-13.

This is the lowest quantity of iron ore exported from the State since 2005 which had been rising consistently due to the metal boom, with exports from the region peaking at 20.05Mt in 2007-2008.

Odisha’s iron ore exports will still count for almost 25% of the total amount exported by India. It is expected that the decline in export levels will continue, and is attributed to high export tax, freight costs, and a falling international price.