Liquefied Propane Price in Japan - 2023

Contents:

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

Liquefied Propane Price in Japan (CIF) - 2023

In September 2023, the average liquefied propane import price amounted to $579 per ton, with an increase of 13% against the previous month. Over the period under review, the import price, however, showed a mild reduction. Over the period under review, average import prices reached the maximum at $698 per ton in March 2023; however, from April 2023 to September 2023, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In September 2023, the countries with the highest prices were Canada ($628 per ton) and Qatar ($592 per ton), while the price for Australia ($499 per ton) and the United States ($566 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 Canada (-0.6%), while the prices for the other major suppliers experienced a decline.

Liquefied Propane Price in Japan (FOB) - 2022

In 2022, the average liquefied propane export price amounted to $56 per ton, falling by -93.3% against the previous year. Over the period under review, the export price continues to indicate a abrupt slump. The growth pace was the most rapid in 2021 when the average export price increased by 18%. As a result, the export price reached the peak level of $841 per ton, and then reduced notably in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was India ($280 per ton), while the average price for exports to China ($0.1 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 India (-8.7%), while the prices for the other major destinations experienced a decline.

Liquefied Propane Imports in Japan

In 2022, the amount of liquefied propanes imported into Japan was estimated at 9M tons, growing by 1.6% compared with the year before. The total import volume increased at an average annual rate of +5.6% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 30%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, liquefied propane imports surged to $6.8B in 2022. Overall, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +19.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +81.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 55%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Top Suppliers of Liquefied Propane to Japan in 2022:

1. United States (5.4M tons)
2. Canada (1.4M tons)
3. Iran (0.8M tons)
4. Australia (0.6M tons)
5. Kuwait (0.3M tons)
6. Saudi Arabia (0.1M tons)
7. United Arab Emirates (0.1M tons)

Liquefied Propane Exports in Japan

In 2022, shipments abroad of liquefied propanes was finally on the rise to reach 758 tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, faced a precipitous shrinkage.

In value terms, liquefied propane exports dropped dramatically to $43K in 2022. In general, exports, however, recorded a dramatic slump. The smallest decline of -13% was in 2020.

Top Export Markets for Liquefied Propane from Japan in 2022:

1. China (485.7 tons)
2. South Africa (164.6 tons)
3. Philippines (98.4 tons)

Source: IndexBox Market Intelligence Platform