Indian producers turn to Venezuela for petcoke supplies

The surge in global coal prices has prompted Indian cement producers to turn to petcoke instead with the country importing significant volumes from Venezuela for the first time. According to Live Mint, trade data shows that India imported at least four shipments of 160,000t of petcoke from Venezuela, arriving in India between April-June 2022. A further 50,000t cargo is due to reach Mangalore, India, over the coming days and a 30,000t shipment is expected to depart Venezuela for India later this month.

Although India has historically imported petcoke from the US and Saudi Arabia, reports suggest that the more competitively priced Venezuelan shipments could soon displace some of these cargoes. Among the Indian cement producers opting to import petcoke from Venezuela are JSW Cement, Ramco Cements and Orient Cement, says Live Mint. Although petcoke is more expensive than coal, it produces more energy when burnt and the Venezuelan supplies are regarded as high quality and very low in sulphur.