Liquefied Propane Price in the Dominican Republic - 2023

Contents:

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

Liquefied Propane Price in the Dominican Republic (CIF) - 2023

In March 2023, the average liquefied propane import price amounted to $509 per ton, growing by 1.7% against the previous month. Over the period under review, the import price, however, showed a pronounced contraction. The most prominent rate of growth was recorded in January 2023 an increase of 8% m-o-m. Over the period under review, average import prices hit record highs at $818 per ton in March 2022; however, from April 2022 to March 2023, import prices stood at a somewhat lower figure.

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

From March 2022 to March 2023, the rate of growth in terms of prices for the United States amounted to -3.7% per month.

Liquefied Propane Price in the Dominican Republic (FOB) - 2022

In 2022, the average liquefied propane export price amounted to $1,263 per ton, with an increase of 4.1% against the previous year. Over the period under review, the export price recorded notable growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 186%. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($1,846 per ton), while the average price for exports to Jamaica ($950 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 the United States (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Liquefied Propane Imports in the Dominican Republic

In 2022, the amount of liquefied propanes imported into the Dominican Republic was estimated at 783K tons, approximately reflecting 2021 figures. In general, total imports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +12.6% 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 +63.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 63% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, liquefied propane imports surged to $534M in 2022. Over the period under review, imports showed significant growth. The growth pace was the most rapid in 2021 with an increase of 86% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Top Suppliers of Liquefied Propane to the Dominican Republic in 2022:

1. United States (638.6K tons)
2. Algeria (34.9K tons)
3. Congo (30.3K tons)
4. Equatorial Guinea (20.7K tons)
5. Norway (20.7K tons)
6. Chile (15.4K tons)
7. Trinidad and Tobago (12.1K tons)

Liquefied Propane Exports in the Dominican Republic

In 2022, overseas shipments of liquefied propanes decreased by -11.4% to 28 tons, falling for the second year in a row after two years of growth. Overall, exports faced a precipitous descent. The pace of growth appeared the most rapid in 2020 with an increase of 9.6% against the previous year. As a result, the exports attained the peak of 15K tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, liquefied propane exports contracted to $35K in 2022. Over the period under review, exports saw a sharp shrinkage. The smallest decline of -2.3% was in 2020.

Top Export Markets for Liquefied Propane from the Dominican Republic in 2022:

1. Jamaica (13.0 tons)
2. Colombia (4.5 tons)
3. Costa Rica (3.1 tons)
4. El Salvador (2.3 tons)
5. United States (1.4 tons)
6. Bermuda (1.2 tons)
7. Guatemala (0.8 tons)

Source: IndexBox Market Intelligence Platform