Panama: Pesticide Market 2024

Pesticide Market Size in Panama

In 2022, the Panamanian pesticide market increased by X% to $X, rising for the fifth consecutive year after two years of decline. In general, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2017 indices. Pesticide consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Pesticide Production in Panama

In value terms, pesticide production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Pesticide Exports

Exports from Panama

In 2022, the amount of pesticides exported from Panama surged to X tons, picking up by X% on 2021. In general, exports, however, faced a sharp contraction. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, pesticide exports soared to $X in 2022. Overall, exports, however, showed a precipitous contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Guatemala (X tons), Colombia (X tons) and Nicaragua (X tons) were the main destinations of pesticide exports from Panama, together comprising X% of total exports. Ecuador, the Dominican Republic, Honduras, Costa Rica and Jamaica lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Jamaica (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for pesticide exported from Panama were Guatemala ($X), Colombia ($X) and Nicaragua ($X), with a combined X% share of total exports. Ecuador, the Dominican Republic, Honduras, Costa Rica and Jamaica lagged somewhat behind, together comprising a further X%.

Jamaica, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average pesticide export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price, however, continues to indicate a perceptible setback. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Ecuador ($X per ton) and Costa Rica ($X per ton), while the average price for exports to Jamaica ($X per ton) and Colombia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced a decline.

Pesticide Imports

Imports into Panama

In 2022, the amount of pesticides imported into Panama declined markedly to X tons, shrinking by X% on the previous year. In general, imports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, pesticide imports reduced to $X in 2022. Overall, imports, however, continue to indicate a prominent increase. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Costa Rica (X tons) constituted the largest supplier of pesticide to Panama, with a X% share of total imports. Moreover, pesticide imports from Costa Rica exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by the United States (X tons), with a X% share.

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

In value terms, the largest pesticide suppliers to Panama were China ($X), Costa Rica ($X) and the United States ($X), with a combined X% share of total imports. Colombia, Mexico, Free Zones, Guatemala and India lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Free Zones, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pesticide import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, continues to indicate a abrupt downturn. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Free Zones ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform