Panama: Buckwheat Market 2025

Buckwheat Market Size in Panama

The Panamanian buckwheat market was estimated at $X in 2022, remaining constant against the previous year. Overall, consumption showed prominent growth. Over the period under review, the market reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Buckwheat Production in Panama

In value terms, buckwheat production stood at $X in 2022 estimated in export price. In general, production continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 28% against the previous year. Buckwheat production peaked at $X in 2020; afterwards, it flattened through to 2022.

The average yield of buckwheat in Panama was estimated at less than X kg per ha in 2022, approximately equating 2021. Over the period under review, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of buckwheat were harvested in Panama; standing approx. at 2021. Over the period under review, the harvested area saw a relatively flat trend pattern.

Buckwheat Exports

Exports from Panama

Buckwheat exports from Panama totaled X tons in 2018, approximately reflecting 2017. Overall, exports saw a dramatic shrinkage. The smallest decline of -20% was in 2014. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2018, the exports failed to regain momentum.

In value terms, buckwheat exports amounted to $X in 2018. In general, exports continue to indicate a dramatic curtailment. The smallest decline of -20% was in 2014. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2018, the exports remained at a lower figure.

Exports by Country

Ireland (X tons) was the main destination for buckwheat exports from Panama, with a approx. 100% share of total exports.

From 2013 to 2018, the average annual growth rate of volume to Ireland was relatively modest.

From 2013 to 2018, the average annual rate of growth in terms of value to Ireland was relatively modest.

Export Prices by Country

In 2018, the average buckwheat export price amounted to $X per ton, approximately equating the previous year. In general, the export price saw a prominent increase. The most prominent rate of growth was recorded in 2015 when the average export price decreased by 99.9%. The export price peaked in 2018 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Ireland.

From 2013 to 2018, the rate of growth in terms of prices for Israel amounted to 0.0% per year.

Buckwheat Imports

Imports into Panama

In 2022, after four years of decline, there was significant growth in overseas purchases of buckwheat, when their volume increased by 25% to X tons. Over the period under review, imports showed significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 641%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, buckwheat imports soared to $X in 2022. Overall, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 613% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest buckwheat supplier to Panama, accounting for a 87% share of total imports. Moreover, buckwheat imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+46.8% per year) and Brazil (+60.3% per year).

In value terms, China ($X) constituted the largest supplier of buckwheat to Panama, comprising 75% of total imports. The second position in the ranking was held by Brazil ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +22.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+76.2% per year) and Turkey (+29.9% per year).

Import Prices by Country

In 2022, the average buckwheat import price amounted to $X per ton, falling by -6% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 66%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+9.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform