Liquefied Propane Price in Hong Kong SAR - 2023

Contents:

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

Liquefied Propane Price in Hong Kong SAR (CIF) - 2022

The average liquefied propane import price stood at $4,197 per ton in 2022, falling by -8.5% against the previous year. In general, the import price, however, continues to indicate a temperate expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 94%. As a result, import price attained the peak level of $4,589 per ton, and then shrank in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +3.7% per year.

Liquefied Propane Price in Hong Kong SAR (FOB) - 2022

In 2022, the average liquefied propane export price amounted to $1,629 per ton, picking up by 6.1% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, liquefied propane export price decreased by -9.3% against 2019 indices. The growth pace was the most rapid in 2016 an increase of 34%. Over the period under review, the average export prices reached the maximum at $1,795 per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($12,674 per ton), while the average price for exports to Israel ($192 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 Malaysia (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Liquefied Propane Imports in Hong Kong SAR

In 2022, approx. 55 tons of liquefied propanes were imported into Hong Kong SAR; growing by 15% against the previous year. The total import volume increased at an average annual rate of +6.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 34% against the previous year. As a result, imports attained the peak of 61 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, liquefied propane imports expanded rapidly to $232K in 2022. Overall, imports enjoyed significant growth. The growth pace was the most rapid in 2021 with an increase of 53% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

Top Suppliers of Liquefied Propane to Hong Kong SAR in 2022:

1. United States (54.5 tons)

Liquefied Propane Exports in Hong Kong SAR

In 2022, after two years of decline, there was significant growth in shipments abroad of liquefied propanes, when their volume increased by 15% to 47 tons. Overall, exports, however, faced a abrupt curtailment.

In value terms, liquefied propane exports skyrocketed to $77K in 2022. In general, exports, however, continue to indicate a deep contraction.

Top Export Markets for Liquefied Propane from Hong Kong SAR in 2022:

1. Israel (28.7 tons)
2. Vietnam (9.2 tons)
3. United Kingdom (2.9 tons)
4. Brazil (2.3 tons)
5. Singapore (1.9 tons)
6. Malaysia (1.7 tons)

Source: IndexBox Market Intelligence Platform