Liquefied Propane Price in Spain - 2023

Contents:

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

Liquefied Propane Price in Spain (CIF) - 2023

The average liquefied propane import price stood at $513 per ton in August 2023, growing by 13% against the previous month. Overall, the import price, however, recorded a perceptible setback. The pace of growth appeared the most rapid in February 2023 when the average import price increased by 13% month-to-month. As a result, import price attained the peak level of $709 per ton. From March 2023 to August 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In August 2023, the country with the highest price was Belgium ($756 per ton), while the price for Algeria ($504 per ton) was amongst the lowest.

From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by France (-1.9%), while the prices for the other major suppliers experienced a decline.

Liquefied Propane Price in Spain (FOB) - 2022

The average liquefied propane export price stood at $1,166 per ton in 2022, with an increase of 70% against the previous year. Over the period under review, the export price showed a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Belgium ($1,888 per ton), while the average price for exports to Ireland ($643 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 Belgium (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Liquefied Propane Imports in Spain

In 2022, overseas purchases of liquefied propanes increased by 58% to 1.7M tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a perceptible contraction.

In value terms, liquefied propane imports soared to $1.2B in 2022. Over the period under review, imports recorded a resilient expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Top Suppliers of Liquefied Propane to Spain in 2022:

1. United States (1252.3K tons)
2. Algeria (279.5K tons)
3. France (55.4K tons)
4. Norway (33.3K tons)

Liquefied Propane Exports in Spain

In 2022, approx. 240K tons of liquefied propanes were exported from Spain; rising by 59% against 2021 figures. Over the period under review, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +7.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +90.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, liquefied propane exports surged to $280M in 2022. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Liquefied Propane from Spain in 2022:

1. United Kingdom (undefinedK tons)
2. Netherlands (156.0K tons)
3. Portugal (43.8K tons)
4. Belgium (12.4K tons)
5. France (10.8K tons)
6. Morocco (8.2K tons)
7. Ireland (5.4K tons)

Source: IndexBox Market Intelligence Platform