Liquefied Propane Price in the UK - 2023

Liquefied Propane Price in the UK (FOB) - 2022

In 2022, the average liquefied propane export price amounted to $758 per ton, surging by 22% against the previous year. Overall, the export price, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in 2021 an increase of 50%. Over the period under review, the average export prices hit record highs at $890 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Portugal ($883 per ton) and Norway ($806 per ton), while the average price for exports to the Netherlands ($592 per ton) and Sweden ($667 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Portugal (+0.3%), while the prices for the other major destinations experienced a decline.

Liquefied Propane Price in the UK (CIF) - 2023

In August 2023, the average liquefied propane import price amounted to $470 per ton, dropping by -14.9% against the previous month. In general, the import price recorded a noticeable decrease. The most prominent rate of growth was recorded in January 2023 when the average import price increased by 81% against the previous month. As a result, import price reached the peak level of $1,395 per ton. From February 2023 to August 2023, the average import prices remained at a somewhat 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 ($747 per ton), while the price for Norway ($418 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 Belgium (+4.5%), while the prices for the other major suppliers experienced a decline.

Liquefied Propane Exports in the UK

Liquefied propane exports from the UK dropped significantly to 670K tons in 2022, with a decrease of -22% against 2021. Over the period under review, exports recorded a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 45% against the previous year.

In value terms, liquefied propane exports contracted modestly to $508M in 2022. Overall, exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2021 with an increase of 118%. As a result, the exports reached the peak of $534M, and then contracted modestly in the following year.

Export of Liquefied Propane in the UK (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Belgium	46.0	26.5	54.5	113	34.9%
France	122	57.4	200	109	-3.7%
Ireland	52.5	24.4	56.2	69.8	10.0%
Portugal	19.7	5.6	19.7	57.9	43.2%
Spain	27.7	19.7	14.5	34.1	7.2%
Netherlands	75.3	24.3	75.2	31.3	-25.4%
Poland	9.5	2.8	31.8	22.6	33.5%
Germany	16.0	10.7	8.8	20.0	7.7%
Italy	38.2	11.7	13.2	12.4	-31.3%
Norway	8.9	22.4	16.0	9.1	0.7%
United States	6.8	14.7	N/A	N/A	116.2%
Finland	N/A	14.1	12.5	N/A	-11.3%
Others	8.3	11.2	32.0	28.3	50.5%
Total	430	246	534	508	5.7%

Top Export Markets for Liquefied Propane from the UK in 2022:

Belgium (165.9K tons)
France (136.9K tons)
Ireland (96.1K tons)
Portugal (65.6K tons)
Netherlands (52.9K tons)
Poland (30.3K tons)
Germany (28.4K tons)
Spain (25.5K tons)
Italy (17.6K tons)
Norway (11.2K tons)

Liquefied Propane Imports in the UK

In 2022, overseas purchases of liquefied propanes decreased by -25.3% to 290K tons, falling for the second year in a row after two years of growth. Over the period under review, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 92%. As a result, imports attained the peak of 674K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, liquefied propane imports shrank to $220M in 2022. In general, total imports indicated notable growth from 2019 to 2022: its value increased at an average annual rate of +2.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -39.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 75%. As a result, imports attained the peak of $361M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Liquefied Propane in the UK (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Norway	74.7	146	64.4	77.7	1.3%
Netherlands	26.7	78.9	50.6	51.3	24.3%
United States	49.3	114	94.6	41.8	-5.4%
Sweden	N/A	5.5	7.6	22.3	101.4%
Belgium	7.7	N/A	1.4	10.4	10.5%
Russia	34.2	4.3	18.6	7.5	-39.7%
Ireland	6.2	2.1	7.9	2.7	-24.2%
Others	7.3	10.5	4.9	6.0	-6.3%
Total	206	361	250	220	2.2%