Liquefied Propane Price in Indonesia - 2022

Liquefied Propane Price in Indonesia (CIF) - 2022

The average liquefied propane import price stood at $841 per ton in March 2022, rising by 13% against the previous month. In general, import price indicated a measured expansion from March 2021 to March 2022: its price increased at an average monthly rate of +2.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on March 2022 figures, liquefied propane import price increased by +13.8% against January 2022 indices. The most prominent rate of growth was recorded in October 2021 when the average import price increased by 20% month-to-month. Over the period under review, average import prices hit record highs at $872 per ton in November 2021; however, from December 2021 to March 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In March 2022, the countries with the highest prices were Bahrain ($895 per ton) and Saudi Arabia ($895 per ton), while the price for Kuwait ($680 per ton) and Qatar ($750 per ton) were amongst the lowest.

From March 2021 to March 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Liquefied Propane Price in Indonesia (FOB) - 2022

In 2022, the average liquefied propane export price amounted to $406 per ton, dropping by -5.5% against the previous year. In general, the export price continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2021 an increase of 16%. The export price peaked at $542 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($708 per ton), while the average price for exports to Maldives ($195 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 Myanmar (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Liquefied Propane Imports in Indonesia

In 2022, approx. 3.5M tons of liquefied propanes were imported into Indonesia; rising by 11% against the previous year's figure. The total import volume increased at an average annual rate of +7.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, liquefied propane imports skyrocketed to $3B in 2022. Over the period under review, imports recorded a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 60%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Import of Liquefied Propane in Indonesia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	414	375	1,102	1,341	48.0%
United Arab Emirates	184	298	352	598	48.1%
Iran	166	177	211	392	33.2%
Qatar	173	170	98.8	183	1.9%
Saudi Arabia	92.7	74.5	106	179	24.5%
Australia	46.7	52.0	62.6	106	31.4%
Kuwait	46.8	43.7	35.8	74.7	16.9%
Others	120	91.3	79.6	149	7.5%
Total	1,243	1,282	2,048	3,023	34.5%

Top Suppliers of Liquefied Propane to Indonesia in 2022:

United States (1723.1K tons)
United Arab Emirates (606.3K tons)
Iran (433.0K tons)
Saudi Arabia (198.5K tons)
Qatar (177.6K tons)
Australia (104.8K tons)
Kuwait (98.9K tons)

Liquefied Propane Exports in Indonesia

Liquefied propane exports from Indonesia contracted rapidly to 154K tons in 2022, which is down by -15.6% on the previous year. In general, exports showed a abrupt curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 46% against the previous year.

In value terms, liquefied propane exports reduced markedly to $63M in 2022. Overall, exports showed a deep slump. The pace of growth was the most pronounced in 2021 when exports increased by 68%.

Export of Liquefied Propane in Indonesia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Thailand	53.3	25.2	49.8	23.4	-24.0%
Philippines	11.8	3.8	3.4	12.8	2.7%
Myanmar	5.3	N/A	N/A	11.1	27.9%
Taiwan (Chinese)	17.7	8.2	16.1	7.4	-25.2%
Australia	15.4	6.1	2.1	4.7	-32.7%
Maldives	2.8	1.2	2.1	0.9	-31.5%
Timor-Leste	1.3	0.7	1.5	0.8	-14.9%
Others	3.0	1.5	3.5	1.5	-20.6%
Total	110	46.7	78.6	62.7	-17.1%