Podcast Summary
Propane supply planning for farmers and ranchers: Farmers and ranchers should plan ahead with their local propane retailer for crop drying and heating to ensure a sufficient supply during uncertain market conditions.
Farmers and ranchers who rely on propane for crop drying and heating should be proactive and plan ahead with their local propane retailer. Being prepared before the cold weather sets in can save time and hassle, as well as potentially help save money. Currently, propane supplies are abundant, but the global market is subject to various uncertainties that could impact supply flows. The mild winter and record propane production in the US have contributed to high inventory levels, but exports have also been at record rates, pulling supply out of the country. Therefore, it's essential to have a plan in place with a local retailer to ensure a sufficient supply of propane when it's needed.
Propane contracts: Finalize propane contracts early with suppliers to secure supply and avoid disruptions, estimate needs based on average annual consumption, and review all supply and retail programs to choose the best fit.
Farmers and businesses that rely on propane for their drying and heating needs should finalize their contracts with their suppliers as early as possible to secure their supply and avoid potential disruptions caused by unexpected events. Propane users are encouraged to work closely with their suppliers to estimate their propane needs based on their average annual consumption and adjust for any changes. It's recommended to start the discussion with the retailer during the spring and summer months, but make sure to review all the supply and retail programs offered and choose the one that best fits the situation. By planning ahead and securing a sufficient supply of propane, users can mitigate the risks of supply chain disruptions caused by unpredictable events such as wildfires and hurricanes.