Panama: Rice Market 2020

Rice Exports

Exports from Panama

In 2018, the amount of rice exported from Panama totaled X tons, shrinking by -X% against the previous year. Overall, rice exports continue to indicate a dramatic slump. The most prominent rate of growth was recorded in 2017 when exports increased by X% year-to-year. In that year, rice exports reached their peak of X tons, and then declined slightly in the following year.

In value terms, rice exports totaled $X in 2018. Overall, rice exports continue to indicate a sharp deduction. The growth pace was the most rapid in 2016 with an increase of X% year-to-year. Over the period under review, rice exports attained their peak figure at $X in 2007; however, from 2008 to 2018, exports stood at a somewhat lower figure.

Exports by Country

Venezuela (X tons) was the main destination for rice exports from Panama, accounting for a X% share of total exports. Moreover, rice exports to Venezuela exceeded the volume sent to the second major destination, Greece (X kg), fivefold.

From 2007 to 2018, the average annual rate of growth in terms of volume to Venezuela amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-X% per year) and Costa Rica (-X% per year).

In value terms, Venezuela ($X) remains the key foreign market for rice exports from Panama, comprising X% of total rice exports. The second position in the ranking was occupied by Costa Rica ($X), with a X% share of total exports.

From 2007 to 2018, the average annual growth rate of value to Venezuela stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Costa Rica (-X% per year) and Greece (-X% per year).

Export Prices by Country

In 2018, the average rice export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price indicated modest growth from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, rice export price decreased by -X% against 2016 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, the average export prices for rice reached their maximum at $X per ton in 2016; however, from 2017 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Costa Rica, while the prices for the other major destinations experienced a decline.

Rice Imports

Imports into Panama

Rice imports into Panama stood at X tons in 2018, growing by X% against the previous year. Over the period under review, rice imports continue to indicate temperate growth. The most prominent rate of growth was recorded in 2012 with an increase of X% against the previous year. Over the period under review, rice imports attained their peak figure at X tons in 2015; however, from 2016 to 2018, imports stood at a somewhat lower figure.

In value terms, rice imports stood at $X in 2018. Over the period under review, rice imports continue to indicate a strong increase. The growth pace was the most rapid in 2012 with an increase of X% y-o-y. In that year, rice imports reached their peak of $X. From 2013 to 2018, the growth of rice imports remained at a somewhat lower figure.

Imports by Country

In 2018, the U.S. (X tons) constituted the largest supplier of rice to Panama, accounting for a X% share of total imports. Moreover, rice imports from the U.S. exceeded the figures recorded by the second-largest supplier, Guyana (X tons), twofold.

From 2007 to 2018, the average annual growth rate of volume from the U.S. was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Guyana (+X% per year) and Brazil (-X% per year).

In value terms, Guyana ($X), the U.S. ($X) and Brazil ($X) were the largest rice suppliers to Panama, with a combined X% share of total imports.

Among the main suppliers, Guyana (+X% per year) experienced the highest growth rate of imports, over the last eleven years, while the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2018, the average rice import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price indicated buoyant growth from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, rice import price increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, the average import prices for rice attained their peak figure at $X per ton in 2013; however, from 2014 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Guyana ($X per ton), while the price for the U.S. ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Guyana, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform