India: Pet coke production falls y-o-y in May’25; consumption rises

• Production falls 7% y-o-y in Apr-May’25
• Consumption stays flat y-o-y in Apr-May

India’s pet coke production in May 2025 stood at 1.20 mnt, 5.3% lower against 1.27 mnt in May 2024, reflecting refinery product-mix preferences towards transport fuels. However, volumes were up by 6.7% from 1.12 mnt in April 2025 due to higher operational output.

Cumulatively, production during April-May totalled 2.32 mnt, down 6.8% from 2.49 mnt in the same period last year. Pet coke production in FY’25 closed at 14.96 mnt versus 15.05 mnt in FY’24, contributing 5.27% of the total petroleum products output of 280.45 mnt, slightly below the previous year’s 5.45% share.

Production in May accounted for 4.95% of the month’s total petroleum products output of 24.27 mnt. Domestic output met around 65.6% of May’s pet coke consumption of 1.83 mnt, with the rest covered by imports. Over FY’25, India’s production of 14.96 mnt met 67.8% of its total consumption of 22.06 mnt, the shortfall being covered mainly through imports.

Refinery production continues to depend on product-mix strategies prioritising higher-value fuels such as diesel, petrol, and aviation turbine fuel (ATF). The coming months may see subdued output if refineries adjust product mix to maximise these fuels.

Pet coke consumption rises m-o-m, y-o-y

Pet coke consumption in May 2025 rose 8.8% to 1.83 mnt from 1.69 mnt in April and 6.4% from 1.72 mnt in May 2024. Cumulative consumption during April-May was nearly flat at 3.52 mnt versus 3.53 mnt a year earlier, down marginally by 0.3%.

May’s consumption closely matched FY’25’s monthly average of 1.84 mnt. In FY’25, total consumption reached 22.06 mnt, accounting for 9.2% of total petroleum products consumption of 239.17 mnt and rising 15.4% y-o-y over 19.11 mnt in FY’24.

Pet coke consumption is driven largely by the cement sector, which remains sensitive to seasonal demand patterns. Consumption as a share of total petroleum products output stood at 8.6% in May, up from 8.4% in April.

Outlook

Consumption may slow during the monsoon months as construction activity softens. However, import allocations for calciners have increased to 1.9 mnt in FY’25 from 1.4 mnt earlier, potentially supporting overall demand. Demand from the cement sector remains critical, while imports continue to be regulated by the Directorate General of Foreign Trade (DGFT), mainly benefiting approved industries such as cement, lime kiln, calcium carbide, and gasifiers.