Panama: Mango And Mangosteen Market 2024

Mango And Mangosteen Market Size in Panama

The Panamanian mango and mangosteen market reached $X in 2022, surging by 3.8% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. Mango and mangosteen consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Mango And Mangosteen Production in Panama

In value terms, mango and mangosteen production expanded significantly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 70% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

The average yield of mangoes, mangosteens and guavas in Panama contracted to X tons per ha in 2022, therefore, remained relatively stable against the previous year. The yield figure increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 when the yield increased by 3%. The mango and mangosteen yield peaked at X tons per ha in 2021, and then fell slightly in the following year. 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 mangoes, mangosteens and guavas were harvested in Panama; which is down by -4.1% compared with 2021 figures. Over the period under review, the harvested area continues to indicate a deep reduction. The pace of growth was the most pronounced in 2021 when the harvested area increased by 9.2%. The mango and mangosteen harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area failed to regain momentum.

Mango And Mangosteen Exports

Exports from Panama

After five years of decline, shipments abroad of mangoes, mangosteens and guavas increased by 250% to X tons in 2022. Over the period under review, exports, however, saw a precipitous decline. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, mango and mangosteen exports skyrocketed to $X in 2022. Overall, exports, however, faced a sharp downturn. The most prominent rate of growth was recorded in 2016 with an increase of 347%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The Netherlands (X tons) was the main destination for mango and mangosteen exports from Panama, accounting for a 70% share of total exports. Moreover, mango and mangosteen exports to the Netherlands exceeded the volume sent to the second major destination, Switzerland (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands totaled +142.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+7.3% per year) and Ireland (-85.6% per year).

In value terms, the Netherlands ($X), Switzerland ($X) and Ireland ($X) constituted the largest markets for mango and mangosteen exported from Panama worldwide.

In terms of the main countries of destination, the Netherlands, with a CAGR of +143.3%, 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

In 2022, the average mango and mangosteen export price amounted to $X per ton, declining by -27.2% against the previous year. In general, the export price, however, posted noticeable growth. The pace of growth appeared the most rapid in 2016 when the average export price increased by 69% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the Netherlands ($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 Spain (+48.3%), while the prices for the other major destinations experienced more modest paces of growth.

Mango And Mangosteen Imports

Imports into Panama

For the fourth year in a row, Panama recorded growth in purchases abroad of mangoes, mangosteens and guavas, which increased by 2.1% to X tons in 2022. Overall, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2019 when imports increased by 66% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, mango and mangosteen imports shrank to $X in 2022. In general, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2019 with an increase of 73% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Costa Rica (X tons) constituted the largest supplier of mango and mangosteen to Panama, accounting for a 69% share of total imports. Moreover, mango and mangosteen imports from Costa Rica exceeded the figures recorded by the second-largest supplier, the Dominican Republic (X tons), fourfold.

From 2014 to 2022, the average annual rate of growth in terms of volume from Costa Rica stood at +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Dominican Republic (+570.0% per year) and Peru (+11.1% per year).

In value terms, Costa Rica ($X) constituted the largest supplier of mangoes, mangosteens and guavas to Panama, comprising 70% of total imports. The second position in the ranking was held by Peru ($X), with a 19% share of total imports.

From 2014 to 2022, the average annual growth rate of value from Costa Rica stood at +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+14.1% per year) and the Dominican Republic (+446.4% per year).

Import Prices by Country

In 2022, the average mango and mangosteen import price amounted to $X per ton, shrinking by -13.5% against the previous year. Over the period under review, the import price showed a deep slump. The most prominent rate of growth was recorded in 2021 an increase of 6.4% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Peru ($X per ton), while the price for the Dominican Republic ($X per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform