Liquefied Propane Price in Mexico - 2023

Liquefied Propane Price in Mexico (CIF) - 2023

The average liquefied propane import price stood at $196 per ton in July 2023, leveling off at the previous month. In general, the import price saw a perceptible contraction. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 5.2% m-o-m. The import price peaked at $357 per ton in July 2022; however, from August 2022 to July 2023, 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 July 2022 to July 2023, the rate of growth in terms of prices for the United States amounted to -4.9% per month.

Liquefied Propane Price in Mexico (FOB) - 2022

The average liquefied propane export price stood at $1,566 per ton in 2022, increasing by 9.2% against the previous year. Overall, export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, liquefied propane export price decreased by -9.0% against 2020 indices. The growth pace was the most rapid in 2016 when the average export price increased by 12% against the previous year. The export price peaked at $1,721 per ton in 2020; however, from 2021 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 Guatemala ($3,651 per ton), while the average price for exports to the United States totaled $1,223 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+15.1%), while the prices for the other major destinations experienced mixed trend patterns.

Liquefied Propane Imports in Mexico

Liquefied propane imports into Mexico shrank slightly to 8.1M tons in 2022, dropping by -2.6% on 2021. Overall, imports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 160% against the previous year. As a result, imports attained the peak of 8.3M tons, and then contracted slightly in the following year.

In value terms, liquefied propane imports stood at $2.8B in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +13.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +77.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 72% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Import of Liquefied Propane in Mexico (Billion USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	1.5	1.3	2.4	2.6	20.1%
Canada	0.3	0.1	0.2	0.1	-30.7%
Others	0.1	0.1	0.1	0.1	0.0%
Total	1.9	1.6	2.7	2.8	13.8%

Top Suppliers of Liquefied Propane to Mexico in 2022:

United States (7.6M tons)
Canada (0.3M tons)

Liquefied Propane Exports in Mexico

Liquefied propane exports from Mexico contracted to 30 tons in 2022, shrinking by -7.4% against 2021. In general, exports, however, showed slight growth. The pace of growth was the most pronounced in 2021 when exports increased by 17% against the previous year. As a result, the exports reached the peak of 33 tons, and then reduced in the following year.

In value terms, liquefied propane exports stood at $47K in 2022. The total export value increased at an average annual rate of +1.1% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2020 when exports increased by 4.5% against the previous year. As a result, the exports attained the peak of $48K. From 2021 to 2022, the growth of the exports remained at a lower figure.