Panama: Lettuce And Chicory Market 2024

Lettuce And Chicory Market Size in Panama

In 2022, after three years of growth, there was decline in the Panamanian lettuce and chicory market, when its value decreased by -0.8% to $X. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Lettuce and chicory consumption peaked at $X in 2021, and then contracted modestly in the following year.

Lettuce And Chicory Production in Panama

In value terms, lettuce and chicory production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 8.3% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

In 2022, the average lettuce and chicory yield in Panama stood at X tons per ha, standing approx. at the year before. In general, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 2.7% against the previous year. The lettuce and chicory yield peaked at X tons per ha in 2017; however, from 2018 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.

In 2022, approx. X ha of lettuce and chicory were harvested in Panama; approximately reflecting 2021. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 3.9% against the previous year. Over the period under review, the harvested area dedicated to lettuce and chicory production attained the maximum at X ha in 2021, and then fell slightly in the following year.

Lettuce And Chicory Exports

Exports from Panama

In 2022, after four years of decline, there was decline in overseas shipments of lettuce and chicory, when their volume decreased by 0% to X kg. Overall, exports showed a abrupt decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 698% against the previous year. The exports peaked at X kg in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, lettuce and chicory exports contracted modestly to $X in 2022. In general, exports recorded a deep downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 459% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Austria (X kg) was the main destination for lettuce and chicory exports from Panama, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Austria stood at -16.8%.

In value terms, Austria ($X) also remains the key foreign market for lettuce and chicory exports from Panama.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria totaled -10.2%.

Export Prices by Country

In 2022, the average lettuce and chicory export price amounted to $X per ton, shrinking by -4.2% against the previous year. Overall, the export price, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the average export price increased by 60% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then contracted in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Austria amounted to +7.9% per year.

Lettuce And Chicory Imports

Imports into Panama

Lettuce and chicory imports into Panama shrank significantly to X tons in 2022, declining by -28.5% against 2021. Over the period under review, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of 76% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, lettuce and chicory imports dropped rapidly to $X in 2022. Overall, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2021 when imports increased by 75% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), Costa Rica (X tons) and Colombia (X tons) were the main suppliers of lettuce and chicory imports to Panama, with a combined 94% share of total imports. These countries were followed by Mexico, which accounted for a further 5.8%.

From 2017 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +53.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest lettuce and chicory suppliers to Panama were the United States ($X), Costa Rica ($X) and Colombia ($X), together accounting for 97% of total imports. These countries were followed by Mexico, which accounted for a further 2.7%.

Among the main suppliers, Mexico, with a CAGR of +35.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average lettuce and chicory import price stood at $X per ton in 2022, rising by 18% against the previous year. Over the period from 2017 to 2022, it increased at an average annual rate of +7.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform