Report Update Jan 1, 2025

Panama - Millet - Market Analysis, Forecast, Size, Trends and Insights

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Panama: Millet Market 2025

Millet Market Size in Panama

The Panamanian millet market surged to $X in 2022, jumping by 73% against the previous year. Over the period under review, consumption showed a significant increase. Millet consumption peaked in 2022 and is likely to see gradual growth in years to come.

Millet Production in Panama

In value terms, millet production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded a significant contraction. The growth pace was the most rapid in 2015 when the production volume increased by 552%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a lower figure.

The average yield of millet in Panama amounted to less than X kg per ha in 2022, approximately equating 2021 figures. In general, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of millet were harvested in Panama; therefore, remained relatively stable against the previous year. Over the period under review, the harvested area showed a relatively flat trend pattern.

Millet Exports

Exports from Panama

In 2016, approx. X tons of millet were exported from Panama; with a decrease of -80.9% on the year before. Overall, exports faced a dramatic decline. The pace of growth was the most pronounced in 2015 with an increase of 6,617% against the previous year. As a result, the exports reached the peak of X tons, and then dropped remarkably in the following year.

In value terms, millet exports reduced remarkably to $X in 2016. Over the period under review, exports faced a dramatic slump. The pace of growth appeared the most rapid in 2015 with an increase of 6,462% against the previous year. As a result, the exports reached the peak of $X, and then contracted rapidly in the following year.

Exports by Country

South Africa (X tons) was the main destination for millet exports from Panama, with a approx. 100% share of total exports.

From 2012 to 2016, the average annual growth rate of volume to South Africa stood at -80.9%.

In value terms, South Africa ($X) also remains the key foreign market for millet exports from Panama.

From 2012 to 2016, the average annual growth rate of value to South Africa stood at -85.5%.

Export Prices by Country

The average millet export price stood at $X per ton in 2016, shrinking by -24.3% against the previous year. Over the period under review, the export price recorded a deep slump. The pace of growth appeared the most rapid in 2013 when the average export price increased by 2% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2016, the average export prices remained at a lower figure.

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

From 2012 to 2016, the rate of growth in terms of prices for Israel amounted to -6.6% per year.

Millet Imports

Imports into Panama

In 2022, imports of millet into Panama soared to X tons, increasing by 37% compared with the previous year's figure. Overall, imports showed a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 104%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, millet imports soared to $X in 2022. Over the period under review, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2019 when imports increased by 115%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Canada (X tons) constituted the largest supplier of millet to Panama, accounting for a 86% share of total imports. Moreover, millet imports from Canada exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), more than tenfold.

From 2017 to 2022, the average annual rate of growth in terms of volume from Canada amounted to +46.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+16.4% per year) and the United States (-11.1% per year).

In value terms, Canada ($X) constituted the largest supplier of millet to Panama, comprising 86% of total imports. The second position in the ranking was held by Bulgaria ($X), with an 8.6% share of total imports.

From 2017 to 2022, the average annual growth rate of value from Canada totaled +57.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+13.8% per year) and the United States (-4.3% per year).

Import Prices by Country

In 2022, the average millet import price amounted to $X per ton, increasing by 26% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2017 to 2022: its price increased at an average annual rate of +7.3% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, millet import price increased by +82.2% against 2018 indices. The pace of growth was the most pronounced in 2019 when the average import price increased by 37% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bulgaria ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

This report provides an in-depth analysis of the millet market in Panama. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 79 - Millet

Country coverage:

Panama

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Panama
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2024
23. Production, In Value Terms, 2012–2024
24. Area Harvested, 2012–2024
25. Yield, 2012–2024
26. Imports, In Physical Terms, 2012–2024
27. Imports, In Value Terms, 2012–2024
28. Imports, In Physical Terms, By Country, 2024
29. Imports, In Physical Terms, By Country, 2012–2024
30. Imports, In Value Terms, By Country, 2012–2024
31. Import Prices, By Country Of Origin, 2012–2024
32. Exports, In Physical Terms, 2012–2024
33. Exports, In Value Terms, 2012–2024
34. Exports, In Physical Terms, By Country, 2024
35. Exports, In Physical Terms, By Country, 2012–2024
36. Exports, In Value Terms, By Country, 2012–2024
37. Export Prices, By Country Of Destination, 2012–2024