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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 hxgrOtdw+4ZoNpH5ETR2zQ==

<SEC-DOCUMENT>0000922358-03-000086.txt : 20030703
<SEC-HEADER>0000922358-03-000086.hdr.sgml : 20030703
<ACCEPTANCE-DATETIME>20030703162632
ACCESSION NUMBER:		0000922358-03-000086
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030703
FILED AS OF DATE:		20030703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FERRELL JAMES E
		CENTRAL INDEX KEY:			0001222835

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11331
		FILM NUMBER:		03775600

	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>ferrell_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>2003-07-03</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000922358</issuerCik>
        <issuerName>FERRELLGAS PARTNERS L P</issuerName>
        <issuerTradingSymbol>FGP</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
      <reportingOwnerId>
            <rptOwnerCik>0001222835</rptOwnerCik>
            <rptOwnerName>FERRELL JAMES E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>CEO/Pres/Chairman</officerTitle>
       </reportingOwnerRelationship>
   </reportingOwner>
   <nonDerivativeSecurity>
      <securityTitle>
         <value>Senior Unit</value>
            <footnoteId id="F1"/>
      </securityTitle>
      <transactionDate>
         <value>2003-07-03</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-07-03</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>D</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>66957.93</value>
         </transactionShares>
         <transactionValue>
           <value>40.6957</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
     <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1994146.35</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>See footnote</value>
            <footnoteId id="F2"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Make-Whole Right</value>
            <footnoteId id="F3"/>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>40.00</value>
            <footnoteId id="F3"/>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-07-03</value>
      </transactionDate>
      <deemedExecutionDate>
         <value>2003-07-03</value>
      </deemedExecutionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>D</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>66957.93</value>
         </transactionShares>
         <transactionValue>
           <value>40.6957</value>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>D</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2005-12-31</value>
            <footnoteId id="F4"/>
      </exerciseDate>
      <expirationDate>
         <value>2007-12-17</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Senior Unit</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>66957.93</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1994146.35</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
           <value>See footnote</value>
            <footnoteId id="F2"/>
         </natureOfOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <footnotes>
<footnote id="F1"> Senior Units redeemed by Issuer pursuant to the Fourth Amended and Restated Agreement of Limited Partnership of Ferrellgas Partners, L.P. dated as of February 18, 2003.</footnote>

<footnote id="F2"> Owned of record by JEF Capital, which is a wholly owned subsidiary of James E. Ferrell Revocable Trust Two, of which the Reporting Person is the trustee and sole beneficiary.</footnote>

<footnote id="F3"> In the event that the Reporting Person sells any Senior Units before the expiration date, the Issuer shall make a cash payment to the Reporting Person equal to the amount by which $40.00 exceeds the price of each Senior Unit sold multiplied by the Number of Senior Units sold. These rights represent a continuation and amendment of the rights set forth in the Purchase Agreement, dated as of December 7, 1999, which was implemented prior to the acquisition of the Senior Units by JEF Capital.</footnote>

<footnote id="F4"> The Make-Whole Right becomes exercisable on the earlier of December 31, 2005 or the occurrence of a Material Event, as defined in the Fourth Amended and Restated Agreement of Limited Partnership of the Issuer.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>James E. Ferrell</signatureName>
      <signatureDate>2003-07-03</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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