Panama: Market for Coffee (Decaffeinated or Roasted) 2024

Market Size for Coffee (Decaffeinated or Roasted) in Panama

The Panamanian decaffeinated or roasted coffee market shrank to $X in 2022, falling by X% against the previous year. In general, consumption showed a noticeable setback. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Production of Coffee (Decaffeinated or Roasted) in Panama

In value terms, decaffeinated or roasted coffee production fell slightly to $X in 2022 estimated in export price. Overall, the total production indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Coffee (Decaffeinated or Roasted)

Exports from Panama

In 2022, overseas shipments of coffee (decaffeinated or roasted) decreased by X% to X tons, falling for the third consecutive year after two years of growth. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, decaffeinated or roasted coffee exports reduced to $X in 2022. Overall, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. The exports peaked at $X in 2021, and then shrank in the following year.

Exports by Country

The United States (X tons) was the main destination for decaffeinated or roasted coffee exports from Panama, with a X% share of total exports. Moreover, decaffeinated or roasted coffee exports to the United States exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the largest markets for decaffeinated or roasted coffee exported from Panama were China ($X), Taiwan (Chinese) ($X) and the United States ($X), together comprising X% of total exports. Japan, South Korea, Saudi Arabia, Germany, Hong Kong SAR, Australia, the UK, the Netherlands, Belgium and Spain lagged somewhat behind, together accounting for a further X%.

Australia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average decaffeinated or roasted coffee export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the export price saw a resilient expansion. The growth pace was the most rapid in 2013 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Coffee (Decaffeinated or Roasted)

Imports into Panama

In 2022, overseas purchases of coffee (decaffeinated or roasted) decreased by X% to X tons, falling for the second year in a row after six years of growth. In general, imports, however, enjoyed a significant expansion. The growth pace was the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, decaffeinated or roasted coffee imports fell remarkably to $X in 2022. Overall, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Colombia (X tons) constituted the largest decaffeinated or roasted coffee supplier to Panama, accounting for a X% share of total imports. Moreover, decaffeinated or roasted coffee imports from Colombia exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The third position in this ranking was held by the UK (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Colombia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the UK (X% per year).

In value terms, Colombia ($X) constituted the largest supplier of coffee (decaffeinated or roasted) to Panama, comprising X% of total imports. The second position in the ranking was held by Italy ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Colombia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the UK (X% per year).

Import Prices by Country

In 2022, the average decaffeinated or roasted coffee import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for Switzerland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform