Liquefied Butanes Price in the Philippines - 2023

Contents:

1. Liquefied Butanes Price in the Philippines (CIF) - 2023
2. Liquefied Butanes Price in the Philippines (FOB) - 2022
3. Liquefied Butanes Imports in the Philippines
4. Liquefied Butanes Exports in the Philippines

Liquefied Butanes Price in the Philippines (CIF) - 2023

The average liquefied butanes import price stood at $451 per ton in July 2023, declining by -3.9% against the previous month. Over the period under review, the import price saw a perceptible downturn. The pace of growth appeared the most rapid in February 2023 when the average import price increased by 23% m-o-m. As a result, import price reached the peak level of $835 per ton. From March 2023 to July 2023, the average import prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Qatar ($488 per ton), while the price for the United Arab Emirates ($416 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Angola (0.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Liquefied Butanes Price in the Philippines (FOB) - 2022

In 2022, the average liquefied butanes export price amounted to $842 per ton, surging by 106% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $1,073 per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($923 per ton), while the average price for exports to China ($641 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+19.9%), while the prices for the other major destinations experienced more modest paces of growth.

Liquefied Butanes Imports in the Philippines

After three years of growth, overseas purchases of liquefied butaneses decreased by -3.3% to 528K tons in 2022. The total import volume increased at an average annual rate of +5.4% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 19%.

In value terms, liquefied butanes imports expanded significantly to $410M in 2022. Over the period under review, imports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 47%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Top Suppliers of Liquefied Butanes to the Philippines in 2022:

1. Saudi Arabia (153.9K tons)
2. Kuwait (100.2K tons)
3. Qatar (87.5K tons)
4. Brunei Darussalam (43.5K tons)
5. Australia (33.9K tons)
6. Algeria (33.4K tons)
7. United States (31.7K tons)
8. Malaysia (13.7K tons)
9. Angola (12.6K tons)

Liquefied Butanes Exports in the Philippines

In 2022, the amount of liquefied butaneses exported from the Philippines surged to 3K tons, increasing by 94% on the previous year's figure. Over the period under review, exports enjoyed a temperate increase. The most prominent rate of growth was recorded in 2021 with an increase of 216%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, liquefied butanes exports surged to $2.5M in 2022. Overall, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Top Export Markets for Liquefied Butanes from the Philippines in 2022:

1. China (2506.1 tons)
2. Canada (426.5 tons)
3. United States (38.4 tons)

Source: IndexBox Market Intelligence Platform