Liquefied Propane Price in Turkey - 2023

Contents:

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

Liquefied Propane Price in Turkey (CIF) - 2023

The average liquefied propane import price stood at $559 per ton in September 2023, rising by 18% against the previous month. In general, the import price, however, recorded a mild downturn. The most prominent rate of growth was recorded in February 2023 when the average import price increased by 26% m-o-m. As a result, import price reached the peak level of $757 per ton. From March 2023 to September 2023, the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Russia ($2,899 per ton), while the price for Algeria ($557 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Russia (-0.2%), while the prices for the other major suppliers experienced a decline.

Liquefied Propane Price in Turkey (FOB) - 2023

In September 2023, the average liquefied propane export price amounted to $577 per ton, rising by 9.9% against the previous month. Over the period under review, the export price, however, showed a slight decline. The most prominent rate of growth was recorded in February 2023 an increase of 27% month-to-month. As a result, the export price attained the peak level of $787 per ton. From March 2023 to September 2023, the the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In September 2023, the country with the highest price was Bulgaria ($582 per ton), while the average price for exports to Lebanon ($568 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (0.0%), while the prices for the other major destinations experienced a decline.

Liquefied Propane Imports in Turkey

Liquefied propane imports into Turkey shrank to 163K tons in 2022, which is down by -2.5% compared with 2021 figures. Overall, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +11.3% 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 +68.5% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 73%. As a result, imports reached the peak of 167K tons, and then shrank modestly in the following year.

In value terms, liquefied propane imports expanded rapidly to $123M in 2022. In general, imports, however, saw significant growth. The pace of growth was the most pronounced in 2021 with an increase of 187% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Top Suppliers of Liquefied Propane to Turkey in 2022:

1. United States (76.7K tons)
2. Algeria (68.5K tons)
3. Russia (16.0K tons)

Liquefied Propane Exports in Turkey

In 2022, the amount of liquefied propanes exported from Turkey contracted significantly to 39K tons, dropping by -19.4% on the previous year. In general, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 634% against the previous year. As a result, the exports reached the peak of 49K tons, and then reduced notably in the following year.

In value terms, liquefied propane exports shrank to $30M in 2022. Over the period under review, exports, however, saw a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 930% against the previous year. As a result, the exports reached the peak of $32M, and then declined in the following year.

Top Export Markets for Liquefied Propane from Turkey in 2022:

1. Bulgaria (20.0K tons)
2. Romania (12.5K tons)
3. Greece (3.8K tons)
4. Lebanon (2.7K tons)

Source: IndexBox Market Intelligence Platform