Report Update Nov 1, 2024

Panama - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Crude Soybean Oil Market 2024

Crude Soybean Oil Market Size in Panama

The Panamanian crude soybean oil market dropped to $X in 2022, falling by -5.7% against the previous year. Overall, consumption saw a abrupt descent. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Crude Soybean Oil Production in Panama

In value terms, crude soybean oil production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a noticeable slump. The most prominent rate of growth was recorded in 2015 with an increase of 169%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Crude Soybean Oil Exports

Exports from Panama

After two years of decline, overseas shipments of crude soybean oil decreased by -7.1% to X tons in 2022. Overall, exports, however, saw a significant expansion. Over the period under review, the exports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, crude soybean oil exports shrank to $X in 2022. Over the period under review, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 558% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Barbados (X tons) was the main destination for crude soybean oil exports from Panama, with a approx. 100% share of total exports.

From 2016 to 2022, the average annual rate of growth in terms of volume to Barbados was relatively modest.

In value terms, Barbados ($X) emerged as the key foreign market for crude soybean oil exports from Panama.

From 2016 to 2022, the average annual rate of growth in terms of value to Barbados was relatively modest.

Export Prices by Country

In 2022, the average crude soybean oil export price amounted to $X per ton, approximately equating the previous year. In general, the export price, however, recorded a mild increase. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then reduced in the following year.

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

From 2016 to 2022, the rate of growth in terms of prices for Belgium amounted to 0.0% per year.

Crude Soybean Oil Imports

Imports into Panama

In 2022, approx. X tons of crude soybean oil were imported into Panama; shrinking by -74.5% compared with the previous year's figure. In general, imports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2020 when imports increased by 1,282% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, crude soybean oil imports dropped markedly to $X in 2022. Overall, imports continue to indicate a dramatic decrease. The pace of growth appeared the most rapid in 2020 with an increase of 1,183% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Costa Rica (X tons) was the main supplier of crude soybean oil to Panama, accounting for a 96% share of total imports. Moreover, crude soybean oil imports from Costa Rica exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Costa Rica amounted to +11.1%.

In value terms, Costa Rica ($X) constituted the largest supplier of crude soybean oil to Panama, comprising 96% of total imports. The second position in the ranking was taken by the United States ($X), with a 4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Costa Rica amounted to +10.3%.

Import Prices by Country

In 2022, the average crude soybean oil import price amounted to $X per ton, with an increase of 13% against the previous year. In general, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude soybean oil import price increased by +111.6% against 2015 indices. The most prominent rate of growth was recorded in 2021 an increase of 46% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Costa Rica totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (+50.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

This report provides an in-depth analysis of the crude soybean oil market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 237 - Oil of Soybeans

Country coverage:

Panama

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Panama
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023