Panama: Fruit Market 2024

Fruit Market Size in Panama

In 2022, the Panamanian fruit market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, saw a pronounced decrease. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Fruit Production in Panama

In value terms, fruit production amounted to $X in 2022 estimated in export price. In general, production, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

The average yield of fruits in Panama rose notably to X tons per ha in 2022, growing by X% compared with the year before. Over the period under review, the yield, however, saw a relatively flat trend pattern. Over the period under review, the average fruit yield attained the peak level at X tons per ha in 2020; however, from 2021 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The fruit harvested area in Panama fell modestly to X ha in 2022, flattening at the year before. Over the period under review, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the harvested area increased by X%. As a result, the harvested area reached the peak level of X ha. From 2015 to 2022, the growth of the fruit harvested area remained at a somewhat lower figure.

Fruit Exports

Exports from Panama

In 2022, after four years of growth, there was significant decline in shipments abroad of fruits, when their volume decreased by X% to X tons. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2016 when exports increased by X,586%. The exports peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, fruit exports declined notably to $X in 2022. Overall, exports, however, saw a significant increase. The growth pace was the most rapid in 2016 when exports increased by X,910% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped rapidly in the following year.

Exports by Country

The Netherlands (X tons) was the main destination for fruit exports from Panama, with a X% share of total exports. Moreover, fruit exports to the Netherlands exceeded the volume sent to the second major destination, the United States (X tons), fourfold. The third position in this ranking was taken by the UK (X tons), with a X% share.

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

In value terms, the Netherlands ($X) remains the key foreign market for fruits exports from Panama, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and the UK (X% per year).

Export Prices by Country

The average fruit export price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the export price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($X per ton) and the UK ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.

Fruit Imports

Imports into Panama

In 2022, imports of fruits into Panama shrank to X tons, falling by X% compared with 2021 figures. Over the period under review, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2017 with an increase of X%. Imports peaked at X tons in 2021, and then contracted in the following year.

In value terms, fruit imports contracted to $X in 2022. Overall, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped in the following year.

Imports by Country

Chile (X tons), Peru (X tons) and the United States (X tons) were the main suppliers of fruit imports to Panama, together comprising X% of total imports. The Dominican Republic, Spain, Italy and France lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fruit suppliers to Panama were Peru ($X), Chile ($X) and the United States ($X), together comprising X% of total imports. Spain, Italy, the Dominican Republic and France lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average fruit import price amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform