Panama: Dried Prune Market 2025

Dried Prune Market Size in Panama

After six years of growth, the Panamanian dried prune market decreased by -28.6% to $X in 2022. Over the period under review, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Dried prune consumption peaked at $X in 2021, and then shrank remarkably in the following year.

Dried Prune Production in Panama

In value terms, dried prune production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.4% against 2020 indices. The growth pace was the most rapid in 2019 with an increase of 65% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Dried Prune Exports

Exports from Panama

Dried prune exports from Panama totaled X tons in 2022, remaining relatively unchanged against the previous year. Over the period under review, exports recorded a notable expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 117%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, dried prune exports amounted to $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 158% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Colombia (X tons), Bahamas (X tons) and Cuba (X kg) were the main destinations of dried prune exports from Panama, together accounting for 99% of total exports.

From 2012 to 2022, the biggest increases were recorded for Cuba (with a CAGR of +20.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Colombia ($X), Bahamas ($X) and Cuba ($X) appeared to be the largest markets for dried prune exported from Panama worldwide, together comprising 99% of total exports.

Among the main countries of destination, Bahamas, with a CAGR of +5.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average dried prune export price stood at $X per ton in 2022, remaining constant against the previous year. In general, the export price showed a noticeable decrease. The most prominent rate of growth was recorded in 2019 when the average export price increased by 20% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Cuba ($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 Guatemala (+18.0%), while the prices for the other major destinations experienced mixed trend patterns.

Dried Prune Imports

Imports into Panama

In 2022, supplies from abroad of dried prunes decreased by -45.1% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, imports saw a abrupt decrease. The growth pace was the most rapid in 2014 with an increase of 54% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, dried prune imports dropped remarkably to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 27% against the previous year. As a result, imports attained the peak of $X, and then reduced rapidly in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest dried prune supplier to Panama, with a 61% share of total imports. Moreover, dried prune imports from the United States exceeded the figures recorded by the second-largest supplier, Chile (X tons), fourfold. The third position in this ranking was taken by Guatemala (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at -8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+11.2% per year) and Guatemala (+15.1% per year).

In value terms, the United States ($X) constituted the largest supplier of dried prunes to Panama, comprising 66% of total imports. The second position in the ranking was held by Chile ($X), with a 16% share of total imports. It was followed by Guatemala, with a 9.6% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+24.3% per year) and Guatemala (+19.9% per year).

Import Prices by Country

The average dried prune import price stood at $X per ton in 2022, surging by 6.9% against the previous year. In general, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, dried prune import price increased by +23.1% against 2020 indices. The growth pace was the most rapid in 2015 when the average import price increased by 43% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 the United States ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Chile (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform