Liquefied Propane Price in Canada - 2023

Liquefied Propane Price in Canada (FOB) - 2023

In September 2023, the average liquefied propane export price amounted to $218 per ton, dropping by -6.5% against the previous month. In general, the export price recorded a pronounced curtailment. The most prominent rate of growth was recorded in August 2023 when the average export price increased by 7.2% month-to-month. Over the period under review, the average export prices reached the peak figure at $378 per ton in September 2022; however, from October 2022 to September 2023, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In September 2023, the country with the highest price was South Korea ($264 per ton), while the average price for exports to the United States ($198 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (-0.0%), while the prices for the other major destinations experienced a decline.

Liquefied Propane Price in Canada (CIF) - 2023

The average liquefied propane import price stood at $246 per ton in September 2023, waning by -14.7% against the previous month. In general, the import price saw a perceptible decrease. The pace of growth appeared the most rapid in January 2023 an increase of 48% against the previous month. As a result, import price attained the peak level of $390 per ton. From February 2023 to September 2023, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From September 2022 to September 2023, the rate of growth in terms of prices for the United States amounted to -3.1% per month.

Liquefied Propane Exports in Canada

In 2022, the amount of liquefied propanes exported from Canada rose markedly to 13M tons, surging by 6.2% on the previous year. Overall, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +9.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +55.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 46%. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, liquefied propane exports soared to $4B in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 132% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Export of Liquefied Propane in Canada (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	1,218	889	1,866	2,097	19.9%
Japan	238	339	851	1,390	80.1%
South Korea	N/A	13.5	191	376	427.7%
Mexico	264	108	282	117	-23.8%
Others	0.1	37.8	23.5	37.0	617.9%
Total	1,720	1,388	3,214	4,017	32.7%

Top Export Markets for Liquefied Propane from Canada in 2022:

United States (7.5M tons)
Japan (3.6M tons)
South Korea (1.3M tons)
Mexico (0.3M tons)

Liquefied Propane Imports in Canada

In 2022, supplies from abroad of liquefied propanes decreased by -51% to 278K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 64%. As a result, imports reached the peak of 568K tons, and then declined significantly in the following year.

In value terms, liquefied propane imports rose markedly to $110M in 2022. Over the period under review, total imports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.5% against 2019 indices. The growth pace was the most rapid in 2021 when imports increased by 50% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.