Liquefied Propane Price in Singapore - 2022

Liquefied Propane Price in Singapore (CIF) - 2022

The average liquefied propane import price stood at $1,205 per ton in 2022, rising by 35% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 124%. Over the period under review, average import prices reached the maximum at $1,750 per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($1,087 per ton), while the price for Qatar ($321 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+63.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Liquefied Propane Price in Singapore (FOB) - 2022

The average liquefied propane export price stood at $798 per ton in 2022, picking up by 41% against the previous year. In general, the export price, however, continues to indicate a mild decrease. The export price peaked at $879 per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($882 per ton), while the average price for exports to India amounted to $794 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+26.7%), while the prices for the other major destinations experienced a decline.

Liquefied Propane Imports in Singapore

For the third year in a row, Singapore recorded decline in overseas purchases of liquefied propanes, which decreased by -50.4% to 326 tons in 2022. Overall, imports showed a dramatic curtailment.

In value terms, liquefied propane imports shrank dramatically to $393K in 2022. Over the period under review, imports showed a precipitous curtailment.

Import of Liquefied Propane in Singapore (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	0.1	0.1	0.3	0.3	44.2%
Nigeria	25.7	N/A	N/A	N/A	0%
Malaysia	0.1	N/A	0.3	N/A	73.2%
United States	76.9	9.2	N/A	N/A	-88.0%
Qatar	59.9	32.5	N/A	N/A	-45.7%
Kuwait	10.7	14.3	N/A	N/A	33.6%
Saudi Arabia	36.4	N/A	N/A	N/A	0%
Others	0.1	0.1	N/A	N/A	0.0%
Total	210	56.3	0.6	0.4	-87.6%

Top Suppliers of Liquefied Propane to Singapore in 2022:

China (308.7 tons)
Malaysia (8.3 tons)
United States (0.5 tons)
Qatar (0.1 tons)

Liquefied Propane Exports in Singapore

In 2022, exports of liquefied propanes from Singapore surged to 494K tons, jumping by 55,702% compared with the year before. Over the period under review, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, liquefied propane exports surged to $394M in 2022. Overall, exports continue to indicate a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.