Panama: Pulses Market 2024

Pulses Market Size in Panama

The Panamanian pulses market was estimated at $X in 2022, picking up 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 reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Pulses Production in Panama

In value terms, pulses production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Pulses production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

The average yield of pulses in Panama dropped to X kg per ha in 2022, remaining constant against the previous year's figure. Overall, the yield showed a drastic downturn. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the average pulses yield reached the peak level at X tons per ha in 2014; however, from 2015 to 2022, the 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 pulses production in Panama totaled X ha, therefore, remained relatively stable against the previous year's figure. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, the harvested area attained the peak level of X ha. From 2016 to 2022, the growth of the pulses harvested area failed to regain momentum.

Pulses Exports

Exports from Panama

In 2022, shipments abroad of pulses was finally on the rise to reach X tons after four years of decline. In general, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, pulses exports skyrocketed to $X in 2022. Overall, exports posted resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Venezuela (X tons), Guatemala (X tons) and Aruba (X tons) were the main destinations of pulses exports from Panama, with a combined X% share of total exports. Grenada and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Grenada (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pulses exported from Panama were Venezuela ($X), Guatemala ($X) and Aruba ($X), with a combined X% share of total exports.

Among the main countries of destination, Guatemala, with a CAGR of X%, 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

In 2022, the average pulses export price amounted to $X per ton, falling by X% against the previous year. In general, the export price saw a drastic downturn. The pace of growth appeared the most rapid in 2015 when the average export price increased by X%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

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

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

Pulses Imports

Imports into Panama

In 2022, approx. X tons of pulses were imported into Panama; approximately equating the previous year. Overall, imports, however, saw a significant increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, pulses imports rose remarkably to $X in 2022. Over the period under review, imports, however, showed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Canada (X tons) constituted the largest supplier of pulses to Panama, with a X% share of total imports. Moreover, pulses imports from Canada exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Peru (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Canada totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Peru (X% per year).

In value terms, the largest pulses suppliers to Panama were Canada ($X), the United States ($X) and Peru ($X), together accounting for X% of total imports.

Canada, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pulses import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, import price indicated buoyant growth from 2012 to 2022: its price 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, pulses import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform