Petroleum product export volume up 3%, value down 7%

Rising Shipments

- Arunima Bharadwaj

India's exports of petroleum products grew by 3.3% in volume terms to 53.3 million tonne during April-January, compared to 51.6 million tonne in the same period last fiscal, according to data from the Petroleum Planning and Analysis Cell of the government. The rise in exports was primarily driven by increased shipments of motor spirit, petcoke, and fuel oil.

Even as the volumes registered an increase, in value terms, the exports declined by almost 7% to $36.6 billion in the first nine months of the current fiscal compared with $39.3 billion in the year-ago period. The dip in export value was due to subdued prices in the current year compared to the year-ago period.