Mangalore Refinery and Petrochemicals Limited (MRPL), a Category 1 schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas, has increased its petroleum coke prices w.e.f. 1st Apr’21.
The revised price for road supply is INR 9,600/t, an increase of INR 150/t as against INR 9,450/t in the last month.
Similarly, MRPL has also increased its pet coke price by INR 150/t for supply by rake/barge to INR 9,300/t from INR 9,150/t of last month.
Price Commentaries
MRPL has increased its price by INR 150/t in Apr’21 compared with the increase of INR 541/t by Reliance Industries Limited (RIL) in the current month. Notably, price increase by MRPL in the last month was INR 550/t against an increase of INR 150/t by RIL. Considering the combined price increase in both months, the overall increase is in the same range of approximately INR 600/t.
There has been consistent increase in pet coke price by RIL month after month from Jul’20 onwards. The increase by RIL over its base of Jun’20 at INR 5,697/t has been INR 5,506/t to INR 11,203/t, which is about 97%.
However, MRPL price in Jun’20 was INR 6,490/t, and it has increased by INR 3,110/t until the current month. Thus, the increase by MRPL during Jun’20 to Apr’21 is around 48%, which is almost half of RIL’s overall price increase during this period.
MRPL has maintained a price difference of INR 300/t between its road supplies and rake/barge supplies, which is the approximate expenditure incurred by a customer for shifting the material from refinery to rake/barge loading area.
The price gap between MRPL and RIL has further decreased and MRPL price is now lower by INR 1,603/t than RIL’s current price, which was lower by INR 1,212/t in the last month.
Furthermore, it has been observed that there is a wide variation in price change on month-to-month basis which indicates clearly that MRPL and RIL are operating in two different markets wherein marketing conditions are quite different.
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