Liquefied Propane Price in Saudi Arabia - 2021

Contents:

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

Liquefied Propane Price in Saudi Arabia (FOB) - 2022

In 2022, the average liquefied propane export price amounted to $603 per ton, dropping by -9% against the previous year. In general, the export price saw a pronounced setback. The pace of growth appeared the most rapid in 2017 when the average export price increased by 49% against the previous year. Over the period under review, the average export prices attained the maximum at $882 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to India ($620 per ton) and China ($602 per ton), while the average price for exports to the Philippines ($566 per ton) and Japan ($577 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (-2.5%), while the prices for the other major destinations experienced a decline.

Liquefied Propane Price in Saudi Arabia (CIF) - 2022

In 2022, the average liquefied propane import price amounted to $744 per ton, dropping by -10.1% against the previous year. Over the period under review, import price indicated a significant expansion from 2020 to 2022: its price increased at an average annual rate of +20.0% over the last two-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, liquefied propane import price increased by +44.0% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 60% against the previous year. As a result, import price reached the peak level of $828 per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($1,715 per ton), while the price for the Netherlands amounted to $1,014 per ton.

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.2%).

Liquefied Propane Exports in Saudi Arabia

After two years of decline, shipments abroad of liquefied propanes increased by 11% to 2.8M tons in 2022. Over the period under review, exports, however, recorded a deep downturn.

In value terms, liquefied propane exports stood at $1.7B in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern.

Top Export Markets for Liquefied Propane from Saudi Arabia in 2022:

1. India (1374.9K tons)
2. China (578.3K tons)
3. Philippines (75.7K tons)
4. Japan (59.4K tons)

Liquefied Propane Imports in Saudi Arabia

In 2022, purchases abroad of liquefied propanes decreased by -31.6% to 18K tons for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 172% against the previous year. As a result, imports attained the peak of 26K tons, and then declined significantly in the following year.

In value terms, liquefied propane imports shrank remarkably to $13M in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 336% against the previous year. As a result, imports attained the peak of $21M, and then contracted markedly in the following year.

Top Suppliers of Liquefied Propane to Saudi Arabia in 2022:

1. Italy (2.6K tons)
2. Netherlands (1.3K tons)

Source: IndexBox Market Intelligence Platform