India: Petcoke production, consumption decline in May

• Consumption eases m-o-m
• Production remains below demand

India’s petcoke market remained subdued in May 2026, with both production and consumption declining on a year-on-year basis. Domestic petcoke production fell to 1.05 mnt from 1.19 mnt in May 2025, while consumption declined to 1.60 mnt from 1.81 mnt, reflecting an 11.4% y-o-y decline in both indicators. Compared with April, production improved marginally, while consumption eased after last month’s recovery. Despite the improvement in output, domestic production continued falling short of demand, requiring imports to bridge the supply gap.

Production recovers marginally m-o-m

Domestic petcoke production increased to 1.05 mnt in May from 0.98 mnt in April, registering a 7.1% m-o-m increase. However, output remained 11.4% lower than 1.19 mnt recorded in May 2025. During Apr-May FY’27, cumulative production stood at 2.03 mnt, down 12.1% from 2.31 mnt in the corresponding period last year.

Although production improved on a monthly basis, petcoke continued accounting for only 4.72% of India’s total petroleum product output of 22.29 mnt in May. During Apr-May FY’27, the share stood at 4.53% of total petroleum product production, indicating that refinery output continued to prioritise other petroleum products.

Consumption moderates after April improvement

Petcoke consumption declined to 1.60 mnt in May from 1.67 mnt in April, reflecting a 4.2% m-o-m decline. On a y-o-y basis, consumption fell 11.4% from 1.81 mnt in May 2025. Cumulative consumption during Apr-May FY’27 stood at 3.28 mnt, compared with 3.37 mnt during the same period last year, down 2.8%.

The decline reflected softer industrial fuel demand during the month, while consumption remained below last year’s level despite the gradual normalisation seen after April. Petcoke accounted for 8.05% of India’s total petroleum product consumption in May, compared with 8.31% during Apr-May FY’27.

Imports continue meeting supply deficit

Domestic production met around 65.5% of May’s consumption, compared with 58.7% in April, indicating a modest improvement in supply coverage. However, nearly one-third of domestic demand continued to be met through imports.

During Apr-May FY’27, domestic production accounted for 61.9% of total consumption, highlighting India’s continued reliance on imported petcoke. The supply gap was largely met through imports of various petcoke grades to cater to different end-use industries.

Outlook

India’s petcoke market is expected to remain balanced in the near term. Domestic production is likely to improve gradually but is expected to remain below consumption levels, ensuring continued import dependence. Demand is expected to remain largely requirement-based during the monsoon period, while the recent correction in imported petcoke prices could improve its competitiveness against alternative fuels in the coming months.