Panama: Plantain Market 2025

Plantain Market Size in Panama

The Panamanian plantain market reduced slightly to $X in 2022, waning by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Plantain Production in Panama

In value terms, plantain production fell to $X in 2022 estimated in export price. Overall, production saw a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average yield of plantains in Panama stood at X tons per ha, standing approx. at 2021. Over the period under review, the yield, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the yield increased by X%. Over the period under review, the average plantain yield hit record highs at X tons per ha in 2014; however, from 2015 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 total area harvested in terms of plantains production in Panama declined to X ha, with a decrease of X% compared with the previous year's figure. Overall, the total harvested area indicated a strong expansion from 2012 to 2022: its figure 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, plantain harvested area increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The plantain harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.

Plantain Exports

Exports from Panama

In 2022, after two years of growth, there was significant decline in overseas shipments of plantains, when their volume decreased by X% to X tons. In general, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, plantain exports contracted to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons), the United States (X tons) and the UK (X tons) were the main destinations of plantain exports from Panama, with a combined X% share of total exports.

From 2012 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 X%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for plantain exported from Panama were Spain ($X), the United States ($X) and the UK ($X), with a combined X% share of total exports.

Spain, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average plantain export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, saw a sharp decrease. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the UK ($X per ton) and Spain ($X per ton), while the average price for exports to Costa Rica ($X per ton) and the United States ($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 Costa Rica (X%), while the prices for the other major destinations experienced mixed trend patterns.

Plantain Imports

Imports into Panama

After two years of decline, supplies from abroad of plantains increased by X% to X tons in 2022. In general, imports recorded significant growth. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, plantain imports soared to $X in 2022. Overall, imports saw a significant increase. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) was the main plantain supplier to Panama, with a approx. X% share of total imports.

From 2015 to 2022, the average annual growth rate of volume from the United States amounted to X%.

In value terms, the United States ($X) constituted the largest supplier of plantains to Panama.

From 2015 to 2022, the average annual growth rate of value from the United States stood at X%.

Import Prices by Country

In 2022, the average plantain import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2020 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 remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2015 to 2022, the rate of growth in terms of prices for Ecuador amounted to X% per year.

Source: IndexBox Platform