Panama: Melon Market 2024

Melon Market Size in Panama

The Panamanian melon market soared to $X in 2022, picking up by 20,889% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt descent. Melon consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Melon Production in Panama

In value terms, melon production dropped to $X in 2022 estimated in export price. In general, production, however, saw a drastic downturn. The growth pace was the most rapid in 2013 with an increase of 41% against the previous year. Melon production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

The average yield of melons in Panama surged to X tons per ha in 2022, rising by 3,916% on 2021 figures. Overall, the yield enjoyed a remarkable increase. Over the period under review, the average melon yield reached the maximum level at X tons per ha in 2020; however, from 2021 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, the melon harvested area in Panama soared to X ha, picking up by 27% against the previous year's figure. Overall, the harvested area, however, saw a abrupt curtailment. Over the period under review, the harvested area dedicated to melon production reached the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Melon Exports

Exports from Panama

In 2022, overseas shipments of melons decreased by -14.2% to X tons, falling for the second consecutive year after two years of growth. Overall, exports continue to indicate a dramatic descent. The most prominent rate of growth was recorded in 2019 when exports increased by 47% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, melon exports declined to $X in 2022. In general, exports showed a precipitous decline. The most prominent rate of growth was recorded in 2019 with an increase of 17% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), the UK (X tons) and Spain (X tons) were the main destinations of melon exports from Panama, with a combined 95% share of total exports. The United States and Belgium lagged somewhat behind, together comprising a further 5%.

From 2016 to 2022, the biggest increases were recorded for the United States (with a CAGR of +10.4%), while shipments for the other leaders experienced a decline.

In value terms, the Netherlands ($X), the UK ($X) and Spain ($X) were the largest markets for melon exported from Panama worldwide, with a combined 96% share of total exports. The United States and Belgium lagged somewhat behind, together comprising a further 3.8%.

Among the main countries of destination, the United States, with a CAGR of +8.1%, recorded 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

The average melon export price stood at $X per ton in 2022, with an increase of 7.6% against the previous year. Over the last six-year period, it increased at an average annual rate of +4.5%. The growth pace was the most rapid in 2017 an increase of 20%. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+40.3%), while the prices for the other major destinations experienced more modest paces of growth.

Melon Imports

Imports into Panama

After four years of decline, supplies from abroad of melons increased by 30% to X tons in 2022. In general, imports, however, continue to indicate a perceptible decline. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, melon imports skyrocketed to $X in 2022. Overall, total imports indicated a strong expansion from 2017 to 2022: its value increased at an average annual rate of +5.1% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest melon supplier to Panama, accounting for a 68% share of total imports. Moreover, melon imports from the United States exceeded the figures recorded by the second-largest supplier, Guatemala (X tons), fourfold. Costa Rica (X tons) ranked third in terms of total imports with an 8% share.

From 2017 to 2022, the average annual rate of growth in terms of volume from the United States totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (-10.8% per year) and Costa Rica (+6.2% per year).

In value terms, the United States ($X) constituted the largest supplier of melons to Panama, comprising 71% of total imports. The second position in the ranking was held by Guatemala ($X), with a 17% share of total imports. It was followed by Honduras, with a 6.8% share.

From 2017 to 2022, the average annual rate of growth in terms of value from the United States totaled +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Guatemala (-3.9% per year) and Honduras (+12.9% per year).

Import Prices by Country

In 2022, the average melon import price amounted to $X per ton, increasing by 36% against the previous year. In general, import price indicated buoyant growth from 2017 to 2022: its price increased at an average annual rate of +9.5% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, melon import price increased by +57.6% against 2017 indices. 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 Mexico ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform