Liquefied Propane Price in Serbia - 2023

Liquefied Propane Price in Serbia (CIF) - 2023

The average liquefied propane import price stood at $580 per ton in October 2023, standing approximately at the previous month. In general, the import price showed a perceptible slump. The pace of growth was the most pronounced in February 2023 an increase of 13% m-o-m. As a result, import price reached the peak level of $828 per ton. From March 2023 to October 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was the United States ($750 per ton), while the price for Hungary ($327 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Kazakhstan (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Liquefied Propane Price in Serbia (FOB) - 2022

In 2022, the average liquefied propane export price amounted to $942 per ton, rising by 41% against the previous year. Over the period under review, the export price, however, recorded a slight decline. The pace of growth was the most pronounced in 2021 when the average export price increased by 42%. Over the period under review, the average export prices reached the maximum at $1,038 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Ukraine ($1,123 per ton) and Croatia ($1,050 per ton), while the average price for exports to North Macedonia ($913 per ton) and Bosnia and Herzegovina ($920 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 Bulgaria (+76.4%), while the prices for the other major destinations experienced more modest paces of growth.

Liquefied Propane Imports in Serbia

For the third year in a row, Serbia recorded decline in supplies from abroad of liquefied propanes, which decreased by -17.3% to 15K tons in 2022. Overall, imports saw a dramatic contraction.

In value terms, liquefied propane imports dropped slightly to $13M in 2022. In general, imports continue to indicate a sharp reduction.

Import of Liquefied Propane in Serbia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Hungary	5.7	4.4	5.0	3.4	-15.8%
Algeria	N/A	0.4	1.7	2.8	164.6%
Egypt	0.1	1.2	0.6	2.1	175.9%
Russia	13.4	3.0	0.4	1.4	-52.9%
Kazakhstan	3.3	4.6	1.4	1.1	-30.7%
United States	N/A	1.1	2.0	0.7	-20.2%
Tunisia	N/A	N/A	0.1	0.6	500.0%
Lithuania	1.3	0.1	N/A	N/A	-92.3%
Poland	1.4	0.4	N/A	N/A	-71.4%
Others	0.9	1.8	1.9	1.0	3.6%
Total	26.2	16.9	13.1	13.0	-20.8%

Top Suppliers of Liquefied Propane to Serbia in 2022:

Poland (undefinedK tons)
Hungary (4.3K tons)
Algeria (3.0K tons)
Egypt (2.4K tons)
Russia (1.5K tons)
Kazakhstan (1.1K tons)
United States (1.0K tons)
Tunisia (0.7K tons)

Liquefied Propane Exports in Serbia

In 2022, approx. 12K tons of liquefied propanes were exported from Serbia; surging by 24% on the previous year. In general, exports continue to indicate a perceptible expansion. The growth pace was the most rapid in 2020 with an increase of 81%. As a result, the exports attained the peak of 20K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, liquefied propane exports soared to $11M in 2022. Overall, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Export of Liquefied Propane in Serbia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Bosnia and Herzegovina	2.2	4.3	5.7	9.0	59.9%
Ukraine	N/A	N/A	N/A	1.2	0%
North Macedonia	2.2	3.3	0.7	0.7	-31.7%
Bulgaria	N/A	N/A	N/A	0.2	0%
Montenegro	0.2	0.5	0.1	0.1	-20.6%
Croatia	1.1	1.4	0.1	0.1	-55.0%
Others	N/A	N/A	N/A	0.1	0%
Total	5.5	9.5	6.5	11.4	27.5%