Australian LPG exports hit record high in March

Australia's LPG exports rose to a historic high in March, rebounding from a 21-month low the previous month as both butane and propane shipments reached record-high levels, according to latest customs data.

Total exports of 322,260t more than tripled from February and were 36pc above March 2020 shipments, according to March trade data from the Australian Bureau of Statistics (ABS) processed by GTT.

Record-high propane shipments of 157,000t in March also more than tripled from February and were around 25pc above March 2020 exports, exceeding the previous record of 156,200t in September 2020, the ABS data showed. The data gave no details on the destination of the shipments.

The lack of transparency was repeated for butane trade in March, with record-high shipments of 162,700t surpassing the previous record of 139,000t in December 2019, the ABS data showed.

The average export price for combined shipments was $558.70/t in March, up from $345.42/t in March 2020 and $524.43/t in February and the highest monthly average since $638.39/t in October 2018. The March average export price was based on a US-Australian dollar exchange rate of $0.7711.

By Kevin Morrison