Panama: Fats Preparation Machinery Market 2024

Fats Preparation Machinery Market Size in Panama

The Panamanian fats preparation machinery market skyrocketed to $X in 2022, growing by 167% against the previous year. In general, consumption showed prominent growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Fats Preparation Machinery Production in Panama

In value terms, fats preparation machinery production amounted to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by 48%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Fats Preparation Machinery Exports

Exports from Panama

In 2022, after two years of decline, there was decline in overseas shipments of machinery for the extraction or preparation of animal or fixed vegetable fats or oils, when their volume decreased by 0% to X units. Overall, exports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 70%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, fats preparation machinery exports surged to $X in 2022. Over the period under review, exports continue to indicate a sharp setback. The growth pace was the most rapid in 2019 with an increase of 127%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cuba (X units), Guatemala (X units) and Jamaica (X units) were the main destinations of fats preparation machinery exports from Panama, with a combined 27% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Jamaica (with a CAGR of 0.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fats preparation machinery exported from Panama were the Dominican Republic ($X), Honduras ($X) and Costa Rica ($X), with a combined 91% share of total exports. Colombia, Cuba, Trinidad and Tobago, Venezuela, Guatemala, Jamaica, Guyana and Chile lagged somewhat behind, together accounting for a further 9.4%.

In terms of the main countries of destination, Chile, with a CAGR of 0.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average fats preparation machinery export price amounted to $X per unit, picking up by 47% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt slump. The growth pace was the most rapid in 2019 an increase of 79%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Dominican Republic ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Haiti (+53.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fats Preparation Machinery Imports

Imports into Panama

In 2022, overseas purchases of machinery for the extraction or preparation of animal or fixed vegetable fats or oils were finally on the rise to reach X units after two years of decline. Over the period under review, imports continue to indicate significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, fats preparation machinery imports soared to $X in 2022. In general, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Malaysia (X units) was the main supplier of fats preparation machinery to Panama, with a 98% share of total imports. It was followed by Germany (X units), with a 0.3% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to +64.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (0.0% per year) and China (0.0% per year).

In value terms, Malaysia ($X) constituted the largest supplier of machinery for the extraction or preparation of animal or fixed vegetable fats or oils to Panama, comprising 100% of total imports. The second position in the ranking was taken by China ($X), with a 0.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia stood at +47.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.7% per year) and Germany (-21.4% per year).

Import Prices by Country

In 2022, the average fats preparation machinery import price amounted to $X per unit, jumping by 40,176% against the previous year. Over the period under review, the import price recorded a remarkable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 China ($X per unit), while the price for Germany ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform