Liquefied Propane Price in Australia - 2023

Contents:

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

Liquefied Propane Price in Australia (CIF) - 2022

The average liquefied propane import price stood at $390 per ton in 2022, rising by 213% against the previous year. In general, the import price, however, showed a deep slump. The import price peaked at $776 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Kuwait ($2,706 per ton), while the price for the United Arab Emirates ($158 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+13.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Liquefied Propane Price in Australia (FOB) - 2022

The average liquefied propane export price stood at $431 per ton in 2022, remaining stable against the previous year. Overall, the export price recorded a abrupt setback. The growth pace was the most rapid in 2017 an increase of 39%. The export price peaked at $892 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($631 per ton), while the average price for exports to Singapore ($226 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 China (-0.4%), while the prices for the other major destinations experienced a decline.

Liquefied Propane Imports in Australia

After three years of growth, overseas purchases of liquefied propanes decreased by -65.9% to 667K tons in 2022. In general, imports saw a mild decline. The most prominent rate of growth was recorded in 2021 with an increase of 160%. As a result, imports attained the peak of 2M tons, and then contracted notably in the following year.

In value terms, liquefied propane imports expanded notably to $260M in 2022. Overall, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +18.4% 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 +69.2% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 59% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Top Suppliers of Liquefied Propane to Australia in 2022:

1. United States (436.2K tons)
2. United Arab Emirates (82.3K tons)
3. Qatar (52.8K tons)
4. Equatorial Guinea (39.6K tons)
5. Kuwait (17.4K tons)
6. Philippines (11.6K tons)

Liquefied Propane Exports in Australia

In 2022, liquefied propane exports from Australia soared to 1.2M tons, rising by 42% compared with 2021. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 1,029%. As a result, the exports attained the peak of 1.5M tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, liquefied propane exports skyrocketed to $505M in 2022. In general, exports posted a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 913% against the previous year. As a result, the exports attained the peak of $652M. From 2021 to 2022, the growth of the exports remained at a lower figure.

Top Export Markets for Liquefied Propane from Australia in 2022:

1. Japan (359.5K tons)
2. China (162.9K tons)
3. Indonesia (51.1K tons)
4. New Zealand (46.2K tons)
5. Singapore (32.4K tons)
6. South Korea (18.9K tons)
7. Vietnam (16.8K tons)
8. Philippines (13.3K tons)
9. Thailand (13.3K tons)
10. Taiwan (Chinese) (11.6K tons)

Source: IndexBox Market Intelligence Platform