India: Pet coke output lags consumption growth in Apr-Dec’25

• Pet coke consumption hits 8-month high in Dec’25
• Domestic output meets only 70% of Dec demand

India’s pet coke production and consumption trends in December 2025 reflected a widening structural gap, with domestic output continuing to trail demand despite a marginal monthly recovery.

Production rises modestly in Dec’25, cumulative volume dips y-o-y

Domestic pet coke production stood at 1.32 mnt in December, marginally up 0.4% y-o-y from 1.31 mnt. On a m-o-m basis, output rose 3.9% from 1.27 mnt in November.

However, cumulative production during April-December 2025 declined 1.7% to 10.95 mnt compared with 11.14 mnt in the same period last year.

In December, pet coke production of 1.32 mnt represented 5.43% of total petroleum products output of 23.33 mnt. Production levels remain linked to refinery product mix strategies, especially delayed coker unit (DCU) outputs such as diesel, petrol and aviation turbine fuel (ATF), which determine pet coke yield.

Consumption trends point to persisting import dependence

India’s pet coke consumption reached an eight-month high of 1.88 mnt in December 2025, the highest since March 2025 when consumption stood at 1.89 mnt. Consumption rose 5.6% m-o-m from 1.78 mnt in November but was down 3.8% y-o-y from 1.95 mnt. Cumulative consumption during April-December declined 5.54% to 15.50 mnt compared with 16.41 mnt last year.

Despite the y-o-y moderation, structural demand remained higher than domestic output. In December, domestic production of 1.32 mnt met only 70.2% of consumption, while the remaining deficit was covered through imports.

Similarly, during April-December, production of 10.95 mnt covered 70.6% of cumulative consumption of 15.50 mnt.

Overall, while December production showed a short-term uptick, cumulative output remains lower y-o-y and continues to lag structural consumption requirements, reinforcing India’s reliance on imported pet coke.