Liquefied Propane Price in India - 2023

Contents:

1. Liquefied Propane Price in India (CIF) - 2023
2. Liquefied Propane Price in India (FOB) - 2022
3. Liquefied Propane Imports in India
4. Liquefied Propane Exports in India

Liquefied Propane Price in India (CIF) - 2023

In September 2023, the average liquefied propane import price amounted to $562 per ton, approximately mirroring the previous month. Overall, the import price saw a pronounced reduction. The growth pace was the most rapid in March 2023 when the average import price increased by 19% m-o-m. As a result, import price reached the peak level of $810 per ton. From April 2023 to September 2023, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In September 2023, the countries with the highest prices were Saudi Arabia ($567 per ton) and Qatar ($567 per ton), while the price for Norway ($510 per ton) and Russia ($546 per ton) were amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Russia (-1.7%), while the prices for the other major suppliers experienced a decline.

Liquefied Propane Price in India (FOB) - 2022

The average liquefied propane export price stood at $4,021 per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price saw a buoyant expansion. The most prominent rate of growth was recorded in 2021 an increase of 369%. The export price peaked at $6,946 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($67,001 per ton), while the average price for exports to Myanmar ($1,990 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 Estonia (+432.7%), while the prices for the other major destinations experienced more modest paces of growth.

Liquefied Propane Imports in India

For the fourth consecutive year, India recorded growth in overseas purchases of liquefied propanes, which increased by 8% to 8.8M tons in 2022. The total import volume increased at an average annual rate of +8.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 12% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, liquefied propane imports skyrocketed to $6.9B in 2022. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 61%. Imports peaked in 2022 and are expected to retain growth in years to come.

Top Suppliers of Liquefied Propane to India in 2022:

1. United States (undefinedM tons)
2. Qatar (3.5M tons)
3. Saudi Arabia (2.2M tons)
4. Kuwait (1.9M tons)
5. Singapore (0.7M tons)
6. Norway (0.3M tons)

Liquefied Propane Exports in India

In 2022, overseas shipments of liquefied propanes decreased by -95.7% to 189 kg, falling for the second consecutive year after two years of growth. In general, exports showed a significant contraction. The pace of growth appeared the most rapid in 2020 with an increase of 14,133%. As a result, the exports attained the peak of 11K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, liquefied propane exports shrank significantly to $760 in 2022. Over the period under review, exports continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2020 with an increase of 1,655%. As a result, the exports reached the peak of $9.5M. From 2021 to 2022, the growth of the exports failed to regain momentum.

Top Export Markets for Liquefied Propane from India in 2022:

1. Myanmar (189.0 kg)
2. Finland (1.0 kg)
3. Estonia (1.0 kg)

Source: IndexBox Market Intelligence Platform