-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 DbWNjEDZeLNyXFD3+0dIAC95Mtv/c3teilKB+r+cysZ78E8/f5JnL8VOU17e9+Ne
 VV2V0SU5duHeGdiFKzVD2A==

<SEC-DOCUMENT>0000922358-03-000080.txt : 20030627
<SEC-HEADER>0000922358-03-000080.hdr.sgml : 20030627
<ACCEPTANCE-DATETIME>20030627172347
ACCESSION NUMBER:		0000922358-03-000080
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030627
FILED AS OF DATE:		20030627

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KELLY KEVIN T
		CENTRAL INDEX KEY:			0001222834

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11331
		FILM NUMBER:		03762230

	MAIL ADDRESS:	
		STREET 1:		ONE LIBERTY PLAZA
		CITY:			LIBERTY
		STATE:			MO
		ZIP:			64068

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FERRELLGAS PARTNERS L P
		CENTRAL INDEX KEY:			0000922358
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-MISCELLANEOUS RETAIL [5900]
		IRS NUMBER:				431698480
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	BUSINESS ADDRESS:	
		STREET 1:		ONE LIBERTY PLAZA
		CITY:			LIBERTY
		STATE:			MO
		ZIP:			64068
		BUSINESS PHONE:		8167921600

	MAIL ADDRESS:	
		STREET 1:		0NE LIBERTY PLAZA
		CITY:			LIBERTY
		STATE:			MO
		ZIP:			64068
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>kelly_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   04/22/03  TZ    -->
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-06-27</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000922358</issuerCik>
        <issuerName>FERRELLGAS PARTNERS L P</issuerName>
        <issuerTradingSymbol>FGP</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
      <reportingOwnerId>
            <rptOwnerCik>0001222834</rptOwnerCik>
            <rptOwnerName>KELLY KEVIN T</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>Senior VP and CFO</officerTitle>
       </reportingOwnerRelationship>
   </reportingOwner>
   <nonDerivativeSecurity>
      <securityTitle>
         <value>Common Unit</value>
      </securityTitle>
      <transactionDate>
         <value>2003-06-27</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-06-27</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>10000</value>
         </transactionShares>
         <transactionValue>
           <value>20.19</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
     <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>10700</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeSecurity>
   <nonDerivativeSecurity>
      <securityTitle>
         <value>Common Unit</value>
      </securityTitle>
      <transactionDate>
         <value>2003-06-27</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-06-27</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>38000</value>
         </transactionShares>
         <transactionValue>
           <value>17.90</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
     <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>48700</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeSecurity>
   <nonDerivativeSecurity>
      <securityTitle>
         <value>Common Unit</value>
      </securityTitle>
      <transactionDate>
         <value>2003-06-27</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-06-27</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>S</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>48000</value>
         </transactionShares>
         <transactionValue>
           <value>21.59</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
     <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>700</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Employee Common Unit Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>20.19</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-06-27</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-06-27</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>10000</value>
         </transactionShares>
         <transactionValue>
           <value>20.19</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2001-07-31</value>
      </exerciseDate>
      <expirationDate>
         <value>2006-07-31</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Unit</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>10000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>95000</value>
            <footnoteId id="F2"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Employee Common Unit Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>17.90</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-06-27</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-06-27</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>M</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>38000</value>
         </transactionShares>
         <transactionValue>
           <value>17.90</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2002-04-19</value>
            <footnoteId id="F1"/>
      </exerciseDate>
      <expirationDate>
         <value>2011-04-19</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Unit</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>38000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>57000</value>
            <footnoteId id="F2"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <footnotes>
<footnote id="F1"> These options granted under the Ferrellgas Unit Option Plan vest ratably over a five-year period following the date of grant (4/19/01).</footnote>

<footnote id="F2"> Number of Derivative Securities Beneficially Owned Following Reported Transactions consist of: 57,000 options with exercise price of $17.90, which will vest ratably in April 2004, April 2005 and April 2006.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Kevin T. Kelly</signatureName>
      <signatureDate>2003-06-27</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----