Panama: Papaya Market 2025

Papaya Market Size in Panama

In 2022, the Panamanian papaya market decreased by -3.5% to $X, falling for the second year in a row after three years of growth. Overall, consumption, however, recorded a strong increase. Papaya consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Papaya Production in Panama

In value terms, papaya production expanded markedly to $X in 2022 estimated in export price. Overall, production, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2019 when the production volume increased by 84%. Papaya production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In 2022, the average yield of papayas in Panama amounted to X tons per ha, approximately reflecting 2021. In general, the yield continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 2.8%. As a result, the yield reached the peak level of X tons per ha. From 2021 to 2022, the growth of the average papaya yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of papayas production in Panama contracted to X ha, dropping by -8.5% compared with 2021. Over the period under review, the harvested area, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2019 when the harvested area increased by 59%. Over the period under review, the harvested area dedicated to papaya production attained the peak figure at X ha in 2021, and then declined in the following year.

Papaya Exports

Exports from Panama

Papaya exports from Panama skyrocketed to X tons in 2022, with an increase of 53% compared with 2021 figures. Overall, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 115% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, papaya exports surged to $X in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 150% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Spain (X tons) and Canada (X tons) were the main destinations of papaya exports from Panama, together comprising 97% of total exports.

From 2017 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +224.1%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Spain ($X) and Aruba ($X) appeared to be the largest markets for papaya exported from Panama worldwide, together accounting for 97% of total exports.

Among the main countries of destination, Spain, with a CAGR of +206.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average papaya export price stood at $X per ton in 2022, growing by 5.1% against the previous year. Over the last five-year period, it increased at an average annual rate of +5.5%. The most prominent rate of growth was recorded in 2019 an increase of 16%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Spain ($X per ton) and the United States ($X per ton), while the average price for exports to Canada ($X per ton) and Aruba ($X per ton) were amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+5.5%), while the prices for the other major destinations experienced mixed trend patterns.

Papaya Imports

Imports into Panama

In 2022, the amount of papayas imported into Panama rose significantly to X tons, surging by 9.2% on the year before. Over the period under review, imports continue to indicate a significant increase. The growth pace was the most rapid in 2017 when imports increased by 579%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, papaya imports reached $X in 2022. Overall, imports posted a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 615%. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Costa Rica (X tons) was the main papaya supplier to Panama, with a 92% share of total imports. Moreover, papaya imports from Costa Rica exceeded the figures recorded by the second-largest supplier, Brazil (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Costa Rica totaled +38.5%.

In value terms, Costa Rica ($X) constituted the largest supplier of papayas to Panama, comprising 70% of total imports. The second position in the ranking was taken by Brazil ($X), with a 29% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Costa Rica amounted to +44.7%.

Import Prices by Country

In 2022, the average papaya import price amounted to $X per ton, shrinking by -6.6% against the previous year. Over the period under review, the import price, however, saw perceptible growth. The pace of growth was the most pronounced in 2019 an increase of 71% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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 Brazil ($X per ton), while the price for Costa Rica amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+10.6%).

Source: IndexBox Platform