Panama: Ginger Market 2025

Ginger Market Size in Panama

In 2022, the Panamanian ginger market decreased by -24.3% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, recorded a significant expansion. Ginger consumption peaked at $X in 2021, and then dropped significantly in the following year.

Ginger Production in Panama

In value terms, ginger production totaled less than $X in 2022 estimated in export price. Over the period under review, production showed prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 86% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

The average yield of ginger in Panama stood at less than X kg per ha in 2022, approximately reflecting 2021. In general, the yield continues to indicate 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 ginger were harvested in Panama; remaining relatively unchanged against the year before. In general, the harvested area recorded a relatively flat trend pattern.

Ginger Exports

Exports from Panama

In 2022, shipments abroad of ginger decreased by -11.9% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 2,176%. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, ginger exports totaled $X in 2022. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 3,645%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Spain (X tons) was the main destination for ginger exports from Panama, with a 62% share of total exports. Moreover, ginger exports to Spain exceeded the volume sent to the second major destination, the United States (X tons), threefold.

From 2013 to 2022, the average annual rate of growth in terms of volume to Spain stood at -26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+113.9% per year) and Belgium (-37.2% per year).

In value terms, Spain ($X) remains the key foreign market for ginger exports from Panama, comprising 56% of total exports. The second position in the ranking was taken by the United States ($X), with a 26% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Spain totaled -23.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+113.9% per year) and Belgium (-33.3% per year).

Export Prices by Country

In 2022, the average ginger export price amounted to $X per ton, growing by 14% against the previous year. In general, the export price, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2014 an increase of 209%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Ginger Imports

Imports into Panama

In 2022, overseas purchases of ginger decreased by -61.4% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2019 with an increase of 178% against the previous year. Imports peaked at X tons in 2021, and then dropped sharply in the following year.

In value terms, ginger imports declined significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 138%. Over the period under review, imports attained the maximum at $X in 2021, and then reduced sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of ginger to Panama, accounting for a 52% share of total imports. Moreover, ginger imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. India (X tons) ranked third in terms of total imports with a 19% share.

From 2015 to 2022, the average annual growth rate of volume from China amounted to +40.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-12.9% per year) and India (+61.9% per year).

In value terms, the largest ginger suppliers to Panama were China ($X), the United States ($X) and India ($X), with a combined 97% share of total imports.

In terms of the main suppliers, China, with a CAGR of +62.3%, saw 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 ginger import price amounted to $X per ton, which is down by -9.1% against the previous year. Over the period under review, the import price saw a abrupt slump. The pace of growth was the most pronounced in 2020 an increase of 69%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and India ($X per ton), while the price for Spain ($X per ton) and China ($X per ton) were amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was attained by China (+15.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform