Panama: Meat Market 2024

Meat Market Size in Panama

The Panamanian meat market dropped to $X in 2022, with a decrease of X% against the previous year. In general, consumption showed a pronounced curtailment. The pace of growth appeared the most rapid in 2021 with an increase of X%. Meat consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Meat Production in Panama

In value terms, meat production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt descent. The growth pace was the most rapid in 2013 when the production volume increased by X%. Meat production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

The average yield of meat in Panama stood at X kg per head in 2022, therefore, remained relatively stable against the previous year's figure. In general, the yield, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X%. The meat yield peaked at X kg per head in 2012; however, from 2013 to 2022, the yield failed to regain momentum.

In 2022, the number of animals slaughtered for meat production in Panama declined slightly to X heads, which is down by X% on 2021 figures. Overall, the number of producing animals, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the number of animals produced reached the peak level of X heads, and then reduced slightly in the following year.

Meat Exports

Exports from Panama

In 2022, shipments abroad of meat decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, meat exports dropped remarkably to $X in 2022. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at $X in 2021, and then declined remarkably in the following year.

Exports by Country

China (X tons) was the main destination for meat exports from Panama, with a X% share of total exports. Moreover, meat exports to China exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), sevenfold. The third position in this ranking was taken by Jamaica (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Jamaica (X% per year).

In value terms, China ($X) remains the key foreign market for meat exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Jamaica, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (X% per year) and Jamaica (X% per year).

Export Prices by Country

In 2022, the average meat export price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. 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 failed to regain momentum.

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 El Salvador ($X per ton), while the average price for exports to Guatemala ($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 Trinidad and Tobago (X%), while the prices for the other major destinations experienced more modest paces of growth.

Meat Imports

Imports into Panama

In 2022, imports of meat into Panama fell notably to X tons, with a decrease of X% against the previous year. In general, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then shrank sharply in the following year.

In value terms, meat imports reduced sharply to $X in 2022. Over the period under review, imports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of meat to Panama, with a X% share of total imports. Moreover, meat imports from the United States exceeded the figures recorded by the second-largest supplier, Canada (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Uruguay (X% per year).

In value terms, the United States ($X) constituted the largest supplier of meat to Panama, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (X% per year) and Uruguay (X% per year).

Import Prices by Country

In 2022, the average meat import price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid 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 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 Uruguay ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform