Liquefied Propane Price in the United States - 2023

Contents:

1. Liquefied Propane Price in the United States (FOB) - 2023
2. Liquefied Propane Price in the United States (CIF) - 2023
3. Liquefied Propane Exports in the United States
4. Liquefied Propane Imports in the United States

Liquefied Propane Price in the United States (FOB) - 2023

The average liquefied propane export price stood at $438 per ton in September 2023, picking up by 2.5% against the previous month. Over the period under review, the export price, however, continues to indicate a perceptible setback. The most prominent rate of growth was recorded in January 2023 when the average export price increased by 9.7% month-to-month. The export price peaked at $590 per ton in September 2022; however, from October 2022 to September 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In September 2023, the highest price was recorded for prices to Mexico ($543 per ton) and Ecuador ($542 per ton), while the average price for exports to Spain ($382 per ton) and France ($389 per ton) were amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (-0.2%), while the prices for the other major destinations experienced a decline.

Liquefied Propane Price in the United States (CIF) - 2023

The average liquefied propane import price stood at $1,535 per ton in September 2023, increasing by 7.3% against the previous month. Overall, the import price, however, continues to indicate a noticeable slump. The growth pace was the most rapid in August 2023 when the average import price increased by 11% m-o-m. Over the period under review, average import prices reached the peak figure at $2,055 per ton in September 2022; however, from October 2022 to September 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Equatorial Guinea ($2,166 per ton), while the price for Canada ($1,428 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Angola (+5.5%), while the prices for the other major suppliers experienced a decline.

Liquefied Propane Exports in the United States

In 2022, after three years of growth, there was significant decline in overseas shipments of liquefied propanes, when their volume decreased by -40.6% to 43M tons. Over the period under review, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 141% against the previous year. As a result, the exports reached the peak of 73M tons, and then contracted dramatically in the following year.

In value terms, liquefied propane exports soared to $25.3B in 2022. Overall, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 64% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Top Export Markets for Liquefied Propane from the United States in 2022:

1. Japan (11.8M tons)
2. Mexico (4.9M tons)
3. China (4.5M tons)
4. South Korea (3.6M tons)
5. Netherlands (2.1M tons)
6. Singapore (1.5M tons)
7. Indonesia (1.4M tons)
8. Brazil (1.2M tons)
9. Belgium (1.2M tons)
10. Spain (1.1M tons)
11. Chile (1.1M tons)
12. Dominican Republic (1.0M tons)
13. Ecuador (0.9M tons)

Liquefied Propane Imports in the United States

In 2022, liquefied propane imports into the United States dropped slightly to 1.1M tons, falling by -3.4% on 2021 figures. Over the period under review, imports faced a sharp decrease. The pace of growth was the most pronounced in 2021 with an increase of 12%.

In value terms, liquefied propane imports surged to $2.3B in 2022. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 80% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Liquefied Propane to the United States in 2022:

1. Canada (1027.2K tons)
2. Equatorial Guinea (52.7K tons)

Source: IndexBox Market Intelligence Platform