Liquefied Propane Price in South Africa - 2023

Contents:

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

Liquefied Propane Price in South Africa (CIF) - 2023

In September 2023, the average liquefied propane import price amounted to $556 per ton, picking up by 18% against the previous month. Over the period under review, the import price, however, showed a slight decline. The most prominent rate of growth was recorded in March 2023 an increase of 23% against the previous month. As a result, import price reached the peak level of $906 per ton. From April 2023 to September 2023, the average import prices failed to regain momentum.

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

From September 2022 to September 2023, the rate of growth in terms of prices for Togo amounted to +2.0% per month.

Liquefied Propane Price in South Africa (FOB) - 2022

The average liquefied propane export price stood at $925 per ton in 2022, declining by -16.2% against the previous year. Over the period under review, the export price continues to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2021 an increase of 32% against the previous year. The export price peaked at $1,324 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lesotho ($1,444 per ton), while the average price for exports to Tanzania ($788 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 Lesotho (+2.7%), while the prices for the other major destinations experienced a decline.

Liquefied Propane Imports in South Africa

For the fourth year in a row, South Africa recorded growth in purchases abroad of liquefied propanes, which increased by 14% to 248K tons in 2022. Overall, imports saw significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 184%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, liquefied propane imports skyrocketed to $200M in 2022. In general, imports enjoyed significant growth. The growth pace was the most rapid in 2021 with an increase of 261% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Top Suppliers of Liquefied Propane to South Africa in 2022:

1. United States (165.7K tons)
2. Togo (50.4K tons)
3. Japan (17.9K tons)
4. Chile (13.4K tons)

Liquefied Propane Exports in South Africa

In 2022, approx. 1.1K tons of liquefied propanes were exported from South Africa; dropping by -29.3% against 2021. Overall, exports faced a dramatic downturn. The smallest decline of -22.1% was in 2020.

In value terms, liquefied propane exports reduced rapidly to $1.1M in 2022. In general, exports faced a sharp reduction. The smallest decline of -20% was in 2020.

Top Export Markets for Liquefied Propane from South Africa in 2022:

1. Tanzania (698.3 tons)
2. Namibia (294.0 tons)
3. Lesotho (151.5 tons)

Source: IndexBox Market Intelligence Platform